Determine the effective rate of interest
An amount A will either purchase a 15-year annuity-immediate with the annual payments of $11,683 or 30-year annuity-immediate with annual payments of $8,882. Determine the effective rate of interest and the value of A.
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Write down each compound statement in symbolic form. (Note: don't forget to identify your simple statements)
$100,000 is needed at the end of 15 years for a College Education Fund. Deposits of $3000 are made at the end of each of the first 5 years, $3000+X at the end of each of the next five years
A family wishes to purchase house for $450,000 with 30-year loan and down payment of 20%. The closing costs are approximately 1.5% of the loan amount and might be included in the loan. The present rate of interest is i(12) = 0.06. Comput
A loan of $10,000 is to be repaid by quarterly payments of $250 commencing after 1 year and continuing thereafter as long as necessary with a final payment of between $250 and $500. Find the duration of the loan and the amount of the final payment
Compute the present value of a perpetuity-immediate with payments of 1 each for 10 years, 2 each for the next 10 years, 3 each for the following 10 years, 4 each for the next 10 years, 5 each for the next 10 years..., if i = 0.06.
A fund of $25,000 is to be accumulated by n annual payments of the $1000 followed by n annual payments of $2,000 and smaller payment made one year after last regular payment. Determine n and the amount of the final payment, if effective rate of i
Pack-Em-In has another development in works. If it builds up 60 houses in this development, it will be capable to sell them at $320,000 each, but if it builds 80 houses, it will get only$280,000 each. Obtain the linear demand equation. (Let p be t
Assume the only solution to Ax = 0 (m equations in n unknowns) is x = 0. What is the rank of A?
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