1. If you deposit $3,000 at the end of each of the next 40 years into an...
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1. If you deposit $3,000 at the end of each of the next 40 years into an account paying 9.5% interest, how much will you have in the account in 40 years?
2. You need to borrow $32,000 to buy a new car. The current loan rate is 6.9% compounded monthly and you want to pay the loan off in equal monthly payments over 3 years. How much will your monthly payment be?
3. Kitty Company's AAA 8% bond has a face value of $1,000 and pays interest semi-annually. It matures in 20 years, and their YTM is currently 12%. What is the price of the bond?
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