Problem 1. What equal (uniform) series of payments must be put into a sinking fund to accumulate $65000 in 15 years at 15% compounded annually when payments are annual?
Problem 2. What annual equal payment series is necessary to repay a series of 10 end-of-year payments that begins at $6000 and decreases at a rate of $200 a year with 12% interest compounded annually?
Problem 3. What is the present value of the geometric series with a first year base of $15000 increasing at 10% per year to year 8 with an interest rate of 13%?
Problem 4. What equal annual amount must be deposited for 10 years in order to provide withdrawals of $200 at the end of the second year, $400 at the end of the third year, $600 at the end of the fourth year, and so on, up to $1800 at the end of the tenth year? The interest rate is 13% compounded annually.
Problem 5. Which of the following nominal interest rates provides the most interest over a year?
a. 19% compounded daily or 20% compounded annually?
b. 38% compounded monthly or 43% compounded annually?