Exercise 6-7 What would you pay for a $210,000 debenture bond that matures in 15 years and pays $10,500 a year in interest if you wanted to earn a yield of: Click here to view factor tables

3%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Amount to Pay

$

4%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Amount to Pay

$

5%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Amount to Pay

$

Exercise 6-8 Newman Weatherspoon, a super salesman contemplating retirement on his fifty-fifth birthday, decides to create a fund on an 8% basis that will enable him to withdraw $18,300 per year on June 30, beginning in 2021 and continuing through 2024. To develop this fund, Newman intends to make equal contributions on June 30 of each of the years 20172020.

Click here to view factor tables How much must the balance of the fund equal on June 30, 2020, in order for Newman to satisfy his objective? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Balance of the fund equal on June 30, 2020

$

Click here to view factor tables What are each of Newmans contributions to the fund? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Newmans contributions to the fund

$