QUESTION 1: What cash payment is equivalent to making payments of $839.00 at the end...
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Accounting
QUESTION 1: What cash payment is equivalent to making payments of $839.00 at the end of every three months for 6 years if interest is 9% per annum compounded annually? The cash payment is ...........
QUESTION 2:
Find the term of the following ordinary general annuity. State your answer in years and months (from 0 to 11 months).
Present
Value
Periodic
Payment
Payment Interval
Interest
Rate
Compounding Period
$9300
$295
month
7%
quarterly
The term of the annuity is .................. year(s) and ..................... month(s).
QUESTION 3:
For the following ordinary annuity, determine the size of the periodic payment.
Future Value
Present
Value
Payment Period
Term of Annuity
Interest Rate
Conversion Period
$6,000.00
3 months
16.25 years
11.9%
quarterly
The periodic payment is ...................
QUESTION 4:
Choosing to commute to work by driving a hybrid vehicle will save $90 every quarter in fuel. If money is worth 4.4% compounded quarterly, how much extra money, over the price of a gas-powered vehicle, should be invested to purchase a hybrid
The amount of extra money that should be invested is..........................
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