Answers
| Ques 1 | |||||
| Amount | 1200 | ||||
| PV=FV/(1+i)^n | |||||
| PV=1200/(1+0.09)^5 | |||||
| PV= | $ 779.92 | ||||
| Ques 2 | |||||
| FV of annuity = P*((1+i)^n-1)/i)) | |||||
| FV of annuity = 1000 * (((1+0.08)^4-1)/0.08) | |||||
| FV of annuity = | 4,506.11 | ||||
| Ques 3 | |||||
| PV of annuity = PMT * PVIFA (I,n) | |||||
| PV of annuity = 930 * PVIFA (9% , 5 ) | |||||
| PV of annuity = 930 * 3.8897 | |||||
| pv of annuity = | 3,617.42 | ||||
| Ques 4 | |||||
| First, calculate the amount you would need to have in 30 years time to yield the $5,100 monthly payments for an additional 25 year OR 300 MONTHS | |||||
| PVA =5100*((1-(1/(1+0.09/12)^300))/(0.09/12)) | |||||
| PVA = | 607,724.27 | ||||
| This amount will become the future value in the next calculation, assuming 9 percent interest and 360 level monthly payments | |||||
| 607,724.27 | = PMT -* ((1+0.09/12)^360)-1)/(0.09/12)) | ||||
| PMT= | 607,724.27 | / | 1830.743 | ||
| PMT= | $ 331.95 | ||||
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