# TVM FINANCE QUESTIONS 3.

Mar 14th, 2015
DotaCN
Category:
Price: \$15 USD

Question description

Ignore taxes. Show your work. If you use Excel, show the formula with the parameters, and the answer. If you use a formula, provide the standard formula, the formula with terms substituted, and the answer. If you use a calculator, show the inputs and the answer.

1. Your daughter has just given birth to your first grandchild. You decide to start a college fund for the child. You want the fund to have \$300,000 in it when the child turns 18. You think you can get a return of 10% per year on your investment. How much should you deposit in the fund?

2.You want to buy a car. To do so, you will need to take out a loan in the amount of \$19,000. The longest you are willing to pay on the loan is five years. The interest rate on this type of loan is 5.0% per year.
How much will the equal monthly payments be?

3. You have been diligently saving to buy a boat. For the last 10 years, you have been putting \$50 per month into a secret savings account paying .5% interest per year. You started with \$0. You just discovered that your spouse knew about the account the whole time and has been withdrawing \$45 each month for the last 10 years. How much money do you have in the account?

(Top Tutor) Daniel C.
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School: UC Berkeley

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