Question
1. How much money would accumulate to $25000 at 4.5% compounded semi-annually in five years, four months?
2. A four-year non-interest bearing promissory note for $3750 is discounted 32 months after the date of issue at 5.5% compounded semi-annually. Find the proceeds of the note.
3. A six-year note for $1750 issued on December 1, 2012, with interest at 6.5% compounded quarterly, is discounted on July 1, 2015, at 7% compounded semi-annually. How much is the maturity value of the note? What are the proceeds of the note on July 1, 2015?
4. A debt of $4000 is repaid by payments of $1500 in nine months, $2000 in 18 months, and a final payment in 27 months. If interest was 10% compounded quarterly, what was the amount of the final payment?
5. Scheduled payments of $400 due today and $700 due with interest at 4.5% compounded monthly in eight months are to be settled by a payment of $500 six months from now and a final payment in fifteen months. Determine the size of the final payment if money is worth 6% compounded monthly.
6. Two debts ---- the first of $800 due six months ago and the second of $1400 borrowed one year ago for a term of three years at 6.5% compounded annually ---- are to be replaced by a single payment one year from now. Determine the size of the replacement payment if interest is 7.5% compounded quarterly and the focal date is one year from now.
7. Savona borrowed $7500 from her aunt today and has agreed to repay the loan in two equal payments to be made in one year and three years from now. What is the size of the equal payments if money is worth 8% compounded quarterly?
8. In how many years will $1000.00 grow to $2000 at 3.6% compounded quarterly? Answer with 2 decimal places.
9. A loan of $2000 taken out today is to be repaid by a payment of $1200 in six months and a final payment of $1000. If interest is 5.318% compounded quarterly, how many months from now should the final payment be made? Answer with whole number.