PRACTICE EXERCISE 3: EVALUATION: Use a separate paper to create a projected balance sheet worksheet with the following information:
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- Do the task with the excel or manually if possible,thx If a family who owns a food stall is planning to buy a car in the next 3 years for $13920,89. The family is able to set aside 20% of their income from $1392,09/month by saving (1% bank interest/month). Is that money enough to buy a car? If not, how much should the family add?A friend of yours just got a new credit card, they tell you it's the best deal they have ever seen. They bought over $1,000 worth of merchandise and tell you all they have to pay in the credit card minimum each month, which is $40. Based on what you have learned in this lesson what would you tell them? Explain to them the dangers of what they are doing.If you go to an Islamic bank and ask for financing for following purposes, which financial product Islamic bank will most likely to use and why? 10 years financing to start a new project 5 years financing to construct a house on your land 3 years financing for a heavy duty generator 6 months financing for IPhone 12Note answer between 200 to 300 words with relevent justification in word form no screenshot will pe acceptable.
- If you go to an Islamic bank and ask for financing for following purposes, which financial product Islamic bank will most likely to use and why? 1. 10 years financing to start a new project 2. 5 years financing to construct a house on your land 3. 3 years financing for a heavy duty generator 4. 6 months financing for IPhone 12After four challenging yet fruitful years, you just graduated from college. Your parents gave you P150,000 cash as a graduation gift and advised you to put it in a savings account to earn a 10% rate of return for 4 years. However, being a pet lover, you went to the pet shop and bought a pair of pet dogs worth P150,000. What is the best estimate of the opportunity cost for this decision? (Use 4 decimals for FV factors) a. 0 b. 69,615 c. 60,000 d. 198,075Say you were hired to do marketing for a bank. You are expected to market the great interest rates for loans and savings account. When marketing a loan would it be more appealing to advertise the APR or APY? Pt 2 Say you were hired to do marketing for a bank. You are expected to market the great interest rates for loans and savings account. When marketing a saving account would it be more appealing to advertise the APR or APY? P3 A student puts $10,000 in a savings account that pays 16% annual interest, compounded annually. How much money will the student have at the end of 5 years? How much interest will the student have earned in 5 years? What is the effective yield (APY)? Ending Value: $ (round to the nearest cents) Interest: $ (round to the nearest cents) APY: (written as a decimal, round to the second decimal place)
- Anne Teak, the financial manager of a furniture manufacturer, is considering operating a lock-box system. She forecasts that 800 payments a day will be made to lock boxes with an average payment size of $3,000. The bank’s charge for operating the lock boxes is $0.50 a check. The interest rate is 0.015% per day. a. If the lock box makes the cash available 2 days earlier, calculate the net daily advantage of the system. (Do not round intermediate calculations.) b. Is it worthwhile to adopt the system? (Yes/No) c. What minimum reduction in the time to collect and process each check is needed to justify use of the lock-box system? (Do not round intermediate calculations. Round your answer to 2 decimal places.)Solve the following problem. Use Excel, financial calculator, or PV and FV Tables. Show your work with the formulas and figures inserted in them. Hamad is saving to establish a small business. He deposits a fixed amount of money every month in a bank account that pays a nominal interest rate of 12 percent. If this account pays interest every month, then how much he should save at the end of every month to have AED 50,000 in his account after 5 years.Each Section should be completed in a separate spreadsheet tab and all calculations should be performed using Excel formulas: You graduated from college and landed a new job that will start in a couple of weeks. You need to purchase a car to commute to and from your new place of employment. You have decided to buy a car that costs $40,000, and will make a $5,000 down payment, resulting in the need to take out a $35,000 loan with a 5% annual interest rate that you will pay off in equal monthly installments over the next 5 years (60 months). Calculate and provide the following information: a) Calculate the monthly payment on the car loan. b) Prepare an amortization table for the car loan that provides separate columns for the following for each month of the car loan: Beginning loan balance; total payment amount, amount of monthly payment allocated to interest; amount of monthly payment allocated to the principal balance; and ending loan balance. (Your amortization table is likely…
- Anne Teak, the financial manager of a furniture manufacturer, is considering operating a lock-box system. She forecasts that 600 payments a day will be made to lock boxes with an average payment size of $2,000. The bank’s charge for operating the lock boxes is $0.30 a check. The interest rate is 0.011% per day. a. If the lock box makes the cash available 2 days earlier, calculate the net daily advantage of the system. (Do not round intermediate calculations.) b. Is it worthwhile to adopt the system? multiple choice Yes No c. What minimum reduction in the time to collect and process each check is needed to justify use of the lock-box system? (Do not round intermediate calculations. Round your answer to 2 decimal places.)PLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASPLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASPLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULASPLEASE, PERFORM THE EXERCISE IN EXCEL AND SHOW THE FORMULAS 7.-A car worth $200,000.00 is sold with a down payment of $50,000.00 and the balance in monthly payments over 3 years at an interest rate of 9.5% compounded monthly. Find the value of the monthly payments that the new owner will make. Note:In the image, this is the original exercise, it is in Spanish, but it is easy to understand. Very important Note:It is necessary that you make a solution approach and then the result. Above all, to check the procedure and/or the formulas used, especially when you use excel. please... understand the context of the exercise in Spanish, it is easy to understandSolve the following problems without using any software, do everything in digital format, explain the formulas, substitutions and result 4. A person today deposits in a bank account the sum of $ 125,000 with a monthly interest rate of 0.75% (9% per year) and plans to withdraw $ 4,000 from the account at the end of each month until the account is zero. For how many months will you be able to make these withdrawals?