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problem1. To supplement your planned retirement in exactly 39 years, you estimate that you need to accumulate $380,000 by the end of 39 years from today. You plan to make equal, annual, end-of-year deposits into an account paying 6% yearly interest.

A: How large must the annual deposits be to make the $380,000 fund by the end of 39 years?

B: If you can afford to deposit only $2,040 per year in the account, how much will you have accumulated by the end of the 39 years?

problem2. Mike obtains a cash flow of 100 today, 200 in two years, and 100 in four years. The present value of this cash flow is 378 at a yearly effective rate of interest i. Compute i.

A) 2.91%

B) 3.91%

C) 4.91%

D) 5.91%

E) 6.91%

problem3. Payments of X are made at the beginning of each year for 15 years. These payments earn interest at the end of each year at a yearly elective rate of 8%. The interest is immediately reinvested at the annual effective rate of 5%. At the end of 15 years, the accumulated value of the 15 payments and the reinvested interest is 4000. find out X.

A) 147

B) 152

C) 157

D) 162

E) 167

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M93358

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