1)Use the compound interest formula to find the present value P, for the following given values.

A=$1,900

i=0.06

n=94

P=$?

 

2) Find the compound amount for the deposit. Round to the nearest cent. $1100 at 3% compounded quarterly for 2 years

 

3) What is the annual percentage yield (APY) for money invested at the given annual rate? Round results to the nearest hundredth of a percent. 5% compounded semiannually

 

4) Find i (the rate per period) and n (the number of periods) for the annuity. Semiannual deposits of $400 are made for 10 years into an annuity that pays 7% compounded semiannually.

 

5)Use the future value formula to find the indicated value. Round to the nearest cent.

n=11;

i=0.03;

PMT=$1,000;

FV=?

 

6)Use the future value formula to find the indicated value.

FV=$4593;

n=8;

i=0.07;

 

PMT=?

 

7)A company estimates that it will need $123,000 in 18 years to replace a computer. If it establishes a sinking fund by making fixed monthly payments into an account paying 4.8% compounded monthly, how much should each payment be?

 

8) Solve the following problem.

n=29;

i=0.053;

PMT=$235;

      PV=?

 

PV=$?

 

9)Find the present value of the ordinary annuity. Round the answer to the nearest cent.

Payments of $93 made quarterly for 10 years at 8% compounded quarterly

 

10)Find the payment necessary to amortize the loan. Round the answer to nearest cent. $11,200;

12% compounded monthly; 48 monthly payments