HWK: TVM Problems $-223$

$1.$ I want to save money for retirement. I plan on saving $$10$k a year with an average return of $10\%.$ How much would I have saved if I work for:

a$.20$ years b$.30$ years c$.40$ years

$2.$ I want to buy a house.

a$.$ I am saving a down payment $$ $$3,000$ a month with a $6\%$ rate of return. How much will I have for a down payment if I save for: a$.3$ years b$.4$ years

$3.$ Armed with a down payment, take out a loan $---30$ year fixed at $8\%$ with a monthly payment of $$4,000$ a month.

a$.$ How much would they receive as a loan:

b$.$ Amortize the first three payments on the $6-$year loan. Provide:

$$ Interest expense for the first three months of the loan

$$ $$ flows for the first three months of the loan

$$ Loan Balance at end of the first three months of the loan.

$4.$ I want to buy a $$50$k car. What will my monthly payment be on a:

a$.5-$year loan @ $8\%$

b$.6-$year loan @ $9\%$

c$.$ Amortize the first three payments on the $6-$year loan. Provide:

$$ Interest expense for the first three months of the loan

$$ $$ flows for the first three months of the loan

$$ Loan Balance at end of the first three months of the loan.

$5.$ Three companies are selling bonds with the following cash flows.

$$ $$1,000$ at the end of year $5$

$$ $$100$ per year for five years.

How much would each of these bonds sell for if the companies credit rating indicated they should return:

a$.$ Joseph Co $---8\%$; b$.$ Kate Co $---10\%$ c$.$ Tiff Co $---12\%$ If an expert can please solve this problem. I would really appreciate it$.$ Below are the Requirements for this problem. Also please answer using excel template or on a piece of paper and please show work.

TVM: REQUIRED: Solve individual problems #$1$ through $5.$ Show set$-$up for variables and calculations, especially for amortization of loans in #$3$b and #$4$c $\backslash$table$[[,$Problem,Points$],[$#$1,$Retirement,$2],[$#$2,$Down Pymt$,2],[$#$3,\backslash$table$[[$a$.$ Loan Amt$],[$b$.$ Amortization$]],2],[$#$4,\backslash$table$[[$a$.$ Monthly pymt$],[$b$.$ Monthly pymt$],[$c$.$ Amortization$]],2],[55,$Bond: a$,$ b$,$ c$.,6]]$