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business
economics 14th global

Questions and Answers of Economics 14th Global

What rate of interest compounded annually is involved ifa. an investment of \($10\),000 made now will result in a receipt of \($23\),674 ten years from now?b. an investment of \($2\),000 made 18
What present amount of money must be deposited at 11 percent interest compounded annually to grow to$15,000 in 9 years? Give your answer to the nearest penny.a. Use the tables provided in Appendix
For your twenty-first birthday, your grandfather offers you a gift of \($1\),000 today. However, you have the choice of waiting 3 years and receiving \($1\),500 or waiting 5 years and receiving
Jason takes out a loan at 10 percent compounded annually for 7 years. At the end of this period, he pays off the loan at a value of $23,384.61. What amount did he borrow?
Calculate using the interest formula the factor (P|F 11.5%,37). Compare that to the result using Excel®’s PV function.
You want to withdraw a single sum amount of $6,000 from an account at the end of 7 years. This withdrawal will zero out the account. What single sum of money deposited today is required if the
If \($5\),000 is borrowed today and \($8\),955 is paid back in 10 years, what interest rate compounded annually has been earned?
If you invest \($1\),500 today and withdraw \($2\),500 in 3 years, what interest rate was earned?
If you have \($2\),500 to invest and need to withdraw \($4\),430 at some time in the future, what is the minimum number of whole years to leave the money invested at 5 percent?
At what interest rate will moneya. double itself in 10 years?b. triple itself in 10 years?c. quadruple itself in 10 years?
With interest at 9 percent compounded annually, what is the fewest number of years (integer-valued) required for money to double in magnitude?
With interest at 6 percent compounded annually, what is the fewest number of years (integer-valued) required for money to triple in magnitude?
What is the smallest integer-valued annual compound interest that will result in an investment tripling in value in less than or equal to 10 years?
How long, to the nearest year, does it take an investment at 6 percent compounded annually to (nearly, more or less)a. double itself?b. triple itself?c. quadruple itself?
Use the six approaches from Example 2.10 to determine to the nearest year how long it takes for an investment to double if the interest is compounded annually at the following rates:a. 5 percentb. 7
You purchase a quarter section (160 acres) of land for \($176\),000 today and sell it in exactly 9 years for \($525\),000 at auction. At what annual compound rate did the value of your land grow?
If you deposit $5,000 four years from today, how much can you withdraw 10 years from today if interest is 8.5 percent per year compounded annually?
You want to have $15 million available when you retire in 40 years (if you think that is exorbitant, wait until you learn about inflation in Chapter 12). If your money can grow in a high-performing
Ben deposits $5,000 now into an account that earns 7.5 percent interest compounded annually. He then deposits$1,000 per year at the end of the first and second years. How much will the account
If you invest \($2\),000 today, \($3\),000 in 2 years, \($4\),000 in 5 years, and \($1\),000 in 7 years, how much will be in the bank 15 years from today if interest is 6 percent compounded annually?
If you invest \($2\),000 today, withdraw \($1\),000 in 3 years, deposit \($3\),000 in 5 years, deposit \($1\),500 in 8 years, and withdraw the entire sum 3 years after the final deposit, how much
The cash flow profile for an investment is given below, and the interest rate is 6.5 percent compounded annuallya. Find the future worth of this cash flow series using the actual cash flows.b. Find
The cash flow profile for an investment is given below, and the interest rate is 8 percent compounded annually.a. Find the present worth of this series using the actual cash flows.b. Find the future
Renaldo borrows $8,000 from his aunt today to help pay for college expenses. He agrees to repay the loan according to the following schedule, at a rate of 6 percent/year compounded annually.a. Draw
Ken loans his grandson Rex $20,000 at 5.5 percent per year to help pay for executive chef schooling in Florida. Rex requires 3 years of schooling before beginning to earn a salary. He agrees to pay
An investment has the following cash flow series where interest is 8 percenta. Determine the present worth of the series.b. Determine the future worth of the series at the end of year 8.c. Find the
An investment has the following cash flow series where interest is 5 percent:a. Determine the present worth of the series.b. Determine the future worth of the series at the end of year 8.c. Find the
The manager at a Sherwin-Williams store has decided to purchase a new \($30\),000 paint-mixing machine with hi-tech instrumentation for matching color and other components. The machine may be paid
Develop a single spreadsheet that allows you to calculate any of the P|A, A|P F|A, or A|F factors. For each cell where the calculation is performed, place above it a small ‘‘control panel’’
If you borrow \($40\),000 at 9 percent annual compound interest and pay it back with 7 equal annual payments, what will be the size of each payment if the first payment occurs 1 year after borrowing
Sara Beth made annual deposits of $5,000 in an account that paid 4 percent compounded annually. How much money should be in the account immediately after her tenth deposit?
Jason has been making equal annual payments of $7,500 to repay a college loan. He has just made an annual payment and now wants to pay off the rest of the loan immediately. He has eight payments
Adriana wishes to accumulate $2,000,000 in 35 years. If 35 end-of-year deposits are made into an account that pays interest at a rate of 7 percent compounded annually, what size deposit is required
Juan borrows $25,000 at 7 percent compounded annually. If the loan is repaid in five equal annual payments, what will be the size of Juan’s payments if the first payment is made 1 year after
Each year, $7,500 is invested at 4 percent annual compound interest.a. What is the value of the investment portfolio after 20 years? After 25 years? After 30 years?b. Repeat part (a) with the
An amount equal to $50,000 is borrowed at 7 percent annual compound interest.a. What size equal annual payment is required if the first of five payments is made 1 year after receiving the$50,000?b.
Using a 5 percent annual compound interest rate, what investment today is needed in order to withdraw $5,000 annuallya. for 10 years?b. for 10 years if the first withdrawal does not occur for 3 years?
If money is worth more than 0 percent to you, would you rather receive \($10\),000/year for 5 years or receive \($5\),000/year for 10 years? What is your preference if you must pay these amounts,
What uniform series over the interval [1,8] will be equivalent to a uniform series of $10,000 cash flows over the interval [3,10] based ona. a 6 percent annual compound interest rate?b. a 10 percent
What uniform series over the interval [11,20] will be equivalent to uniform series of $10,000 cash flows over the interval [1,10] based ona. a 6 percent annual compound interest rate?b. A 10 percent
You deposit $1,000 in a fund at the end of each year for 10 years. The fund pays 5 percent compounded annually.How much money is available to withdraw immediately after your last deposit?
Eight equal deposits of $1,000 are made at the end of each year into a fund paying 8 percent per year.a. What is the present worth 1 year before the first deposit?b. What is the future worth
In planning for your retirement, you would like to withdraw $60,000 per year for 10 years. The first withdrawal will occur 20 years from today.a. What amount must you invest today if your return is
You purchase a house for \($250\),000 directly from the buyer who owns the home outright. You pay a 20 percent down payment. You sign a first mortgage, and the buyer agrees to finance the remaining
How much money can be withdrawn at the end of the investment period ifa. $4,000 is invested at the end of each of 3 years at 5 percent/year compounded annually, with the lump sum then shifted into an
How much money can be withdrawn at the end of 15 years ifa. $2$2,000 is deposited at the end of each year and earns 5 percent/year compounded annually?b. $3$3,000 is deposited at the end of each year
Determine the present worth of 5 equal annual deposits of \($1\),200 at the end of years 1 through 5, followed by 4 equal annual withdrawals of \($700\) at the end of years 4 through 7. Note that
You take out a loan to buy a new audio system. Your equal annual payments are 20 percent of the amount you borrowed. The interest rate on the loan is 7 percent compounded annually.a. Determine the
You take out a loan to build a swimming pool in your new home’s backyard. Your equal annual payments are 1/6 of the amount you borrowed. If it will take you 7 years to fully repay the loan, what is
You decide to open an IRS-approved retirement account at your local brokerage firm. Your best estimate is that it will earn 9 percent. At the end of each year for the next 25 years, you will deposit
You plan to open a retirement account. Your employer will match 50 percent of your deposits up to a limit on the match of \($2\),500 per year. You believe the fund will earn 12 percent per year over
Janie deposits \($10\),000 in the bank today. Starting 3 years from now, she makes equal withdrawals of \($1\),000 for 5 years and then withdraws the remaining amount 10 years from now. How much will
Fishing Designs has arranged to borrow \($15\),000 today at 12 percent interest. The loan is to be repaid with end-of-year payments of \($3\),000 at the end of years 1 through 4. At the end of year
You deposit $X in an account on your twenty-fifth, thirtieth, and thirty-fifth birthdays. The account pays 9 percent.You intend to withdraw your savings in 10 equal annual withdrawals on your
You put $20,000 on deposit on your thirtieth birthday at 5 percent compounded annually. On your fortieth birthday, the account begins earning 6 percent. Then on your fiftieth birthday, it begins
Determine the equivalent annual cash flow of this series at 10 percent interest: End of Year 0 1 2 3 4 5 6 7 8 Cash Flow -$2,500 $3,000 $4,500 $0 -$5,000 $0 -$1,000 $7,000 $3,000
Develop a mathematical relationship for finding the accumulated amount F at the end of n years that will result from a series of n beginning-of-year payments each equal to B if these payments are
Develop a single spreadsheet that allows you to calculate the P|G, F|G, and A|G factors. For each cell where the calculation is performed, place above it a small ‘‘control panel’’ that allows
You want to be able to withdraw $800$800 from a savings account at the end of year 1, $900$900 at the end of year 2, $1$1,000 at the end of year 3, and so on over a total of 5 years. How much money
Deposits are made at the end of years 1 through 7 into an account paying 6 percent per year interest. The deposits start at \($5\),000 and increase by \($1\),000 each year. How much will be in the
A small company wishes to setup a fund that can be used for technology purchases over thenext6years. Their forecast is for \($12\),000 to be needed at the end of year 1, decreasing by \($2\),000 each
An easy payment plan offered by a local electronics store for your new audio system calls for payments of $2,000,$2,500, $3,000, and $3,500 at the ends of years 1 through 4, respectively. Your money
A person you trust asks you to loan them \($2\),000 at the end of year 1, \($1\),000 at the end of year 2, nothing in year 3, and then they will pay you \($1\),000 in year 4, \($2\),000 in year 5,
Consider the following cash flow profile:Using a gradient series factor, determine the present worth equivalent for the cash flow series using an annual compound interest rate ofa. 6 percent.b. 7
On Juan’s twenty-sixth birthday, he deposited $7,500 in a retirement account. Each year thereafter, he deposited$1,000 more than the previous year. Using a gradient series factor, determine how
A 90,000 investment is made.Over a5−year period,a return of 30,000 occurs at the end of the first year. Each successive year yields a return that is \($3\),000 less than the previous
What single sum of money occurring at t = 5 will be equivalent to a cash flow series consisting of \($7\),000 at t = 1, \($6\),000 at t = 2, \($5\),000 at t = 3, \($4\),000 at t = 4, \($3\),000 at t
Consider the following cash flow profile:What is the present worth equivalent for the cash flow series with an interest rate of 12 percent? EOY Cash Flow EOY Cash Flow EOY Cash Flow 0 -$50,000 3
In Problem 102, using an interest rate of 10 percent, what uniform series over the closed interval [1,8] is equivalent to the cash flow profile shown?Data from problem 102Consider the following cash
In Problem 102, using an interest rate of 8 percent, what single sum of money occurring at the end of year 8 is equivalent to the cash flow profile shown?Data from problem 102Consider the following
In Problem 102, with an interest rate of 6 percent, what increasing gradient series is equivalent to the cash flow profile shown if the gradient series sought has a value of X at EOY = 1 and a value
Consider the following cash flow profile:With a compounded annual interest rate of 6 percent, what single sum of money at the end of the sixth year will be equivalent to the cash flow series? EOY
In Problem 106, what uniform annual series over [4,7] will be equivalent to the cash flow profile if money is worth 6 percent compounded annually?Data from problem 106Consider the following cash flow
In Problem 106, suppose the positive-valued cash flows are replaced by a positive gradient series. If the cash flow at end-of-year 8 is $10,000, what first year payment and gradient step make the
Maintenance costs on a certain piece of equipment are estimated to be $500, $600, $700, $800, and $900 at the end of years 1, 2, 3, 4, and 5, respectively. The time value of money rate is 8 percent
A series of 25 end-of-year deposits is made that begins with $1,000 at the end of year 1 and increases at the rate of$200 per year with a 12 percent interest rate compounded annually.a. What amount
A series of 10 end-of-year deposits is made that begins with $7,000 at the end of year 1 and decreases at the rate of$300 per year with 10 percent interest.a. What amount could be withdrawn at t =
Miller Machining needs to purchase a piece of machinery to be able to compete on a new contract with a first-tier automotive supplier. The machinery will cost $140$140,000, and the owner arranges to
Lee Chiew is borrowing \($170\),000 from Asia Bank USA to open Asian Health Foods in Virginia. She agrees to repay the loan at 10 percent compounded annually. Since she expects it to take a few years
What single sum of money at the end of year 3 is equivalent to a payment series of \($10\),000 the first year, \($9\),000 the second year, . . . ,down to \($6\),000 the fifth year? Assume that money
Consider a loan of $10,000 and the following pattern of cash flows.a. What is the interest rate that makes the present worth equal to $0.00?b. Using the interest rate determined in part (a) and
Piyush has recently inherited 20 million INR (Indian rupees) from his late uncle Scrooge. To keep Piyush from spending his money immediately, Scrooge made arrangements for the inheritance to be
Consider the following series of cash flows:Clearly set up an expression and determine the value of a lump sum equivalent amount of the above cash flows at year 5 if i = 7 percent. Use at least one
A cash flow profile starts with \($2\),000 and increases by \($1\),000 each year up to \($21\),000 at time 20. Then it starts again with \($21\),000 at time 21 and decreases by \($1\),000 each year
Your friend claims that the following series of payments is absolutely worthless since they add up to $0:The time value of money is 18 percent. Determine the present value of these cash flows. End of
Below is an equation to compute the present value of a cash flow series. Determine the cash flow profile that is implied by the equation. P=800+950(PA i%,4) - 450 (P|G i%,4) - 600(P|A i%,3)(P|Fi%,4)
Below is an equation to compute the present value of a cash flow series. Determine the cash flow profile that is implied by the equation. P -7,000+ [1,850+ 200(A|G 8%,6)] (P|A 8%,6) (P|F8%,4)
Develop a mathematical relationship for finding the accumulated amount F at the end of n years of a gradient series where the interest is i%. Put differently, you already have access to a (P|G i%;n)
Develop a single spreadsheet that allows you to calculate the (P|A1, i%, j%,n), (F|A1,i% j%, n), and (A/A1 i%, j%,n) factors. For each cell where the calculation is performed, place above it a small
Suppose you make 30 annual investments in a fund that pays 5 percent compounded annually. If your first deposit is $7,500 and each successive deposit is 5 percent greater than the preceding deposit,
In Problem 124, how much will be in the fund immediately after the thirtieth deposit if the fund pays 6 percent compounded annually and each successive deposit is 6 percent greater than the preceding
On Juan’s twenty-sixth birthday, he invested $7,500 in a retirement account. Each year thereafter, he deposited 8 percent more than the previous deposit. The account paid annual compound interest
In Problem 126, if Juan decided to wait 10 years before investing for retirement, how much would he have to invest on his thirty-sixth birthday to have the same account balance on his sixtieth
In Problem 126, what uniform annual investment is required to achieve the same account balance?Data from problem 126On Juan’s twenty-sixth birthday, he invested $7,500 in a retirement account. Each
A \($90\),000 investment is made. Over a 5-year period, a return of \($30\),000 occurs at the end of the first year. Each successive year yields a return that is 10 percent less than the previous
Consider the following cash flow profile:Suppose the positive-valued cash flows are now replaced by a geometric series. If the cash flow at end-of-year 1 is $10,000, what geometric rate is required
On your child’s first birthday, you open an account to fund her college education. You deposit $2,000 to open the account. Each year, on her birthday, you make another deposit, with each being 10
You are preparing the business plan for a new company. A net revenue analysis covering the first 6 years is required for obtaining financing. Net revenue in year 1 is expected to be $50,000 and
A famous high-volume calculus text generates royalties beginning with $60,000 in the first year and declining each year by 40 percent of the previous year due to used sales and competition. The
A cash flow series is increasing geometrically at a rate of 6 percent per year. The initial cash flow at t = 1 is $1,000.The increasing payments end at t = 20. The interest rate in effect is 15

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