NOTE FOR TUTOR: PLEASE FILL IN EXCEL LIKE THE ONE ATTACHED AND ALSO PREPARE LOAN REPAYMENT SCHEDULE!
Question:
NOTE FOR TUTOR: PLEASE FILL IN EXCEL LIKE THE ONE ATTACHED AND ALSO PREPARE LOAN REPAYMENT SCHEDULE! THANK YOU!
QUESTION 2
Burt deposits $10,000 into a bank account today. The account earns 4.5% per annum compounding daily for the first 4 years, then 5.5% per annum compounded quarterly thereafter. No further deposits or withdrawals will be made.
For this question, assume all months are of equal length and ignore leap years.
(a) Calculate the account balance six months from today.
(1 mark)
Burt deposits $10,000 into a bank account today. The account earns 4.5% per annum compounding daily for the first 4 years, then 5.5% per annum compounded quarterly thereafter. No further deposits or withdrawals will be made.
For this question, assume all months are of equal length and ignore leap years.
(b) Calculate the account balance 4 years from today.
(1 mark)
Burt deposits $10,000 into a bank account today. The account earns 4.5% per annum compounding daily for the first 4 years, then 5.5% per annum compounded quarterly thereafter. No further deposits or withdrawals will be made.
For this question, assume all months are of equal length and ignore leap years.
(c) Calculate the account balance 4.5 years from today.
(1 mark)
Burt deposits $10,000 into a bank account today. The account earns 4.5% per annum compounding daily for the first 4 years, then 5.5% per annum compounded quarterly thereafter. No further deposits or withdrawals will be made.
For this question, assume all months are of equal length and ignore leap years.
(d) Calculate the account balance 10 years from today.
(1 mark)
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill