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Chapter 7: Homework 6 Due March 23 11:59PM 1. Engineer invests $10000 annually at year-end for 40 years. For $1 million at retirement, what interest must be earned? 2. A small restaurant costs $350,000. Expected profits equal $22,000/year for 6 years when value is $400,000. What is project's rate of return? 3. Corporate bond initially sold for $1000. Issuer will pay $40 interest every 6 months & repay $1000 face value after 10 years. After 1 year, bond was sold for $950. (a) What rate of return did original buyer receive? (b) What rate of return for new buyer if bond kept for remaining 9-year life? 4. Furniture company is offering either a discount equal to twice the state sales tax or interest free financing for 60 months. Tax = 6%. What is the effective annual interest rate for financing versus the discount? Assume you are buying $10,000 worth of furniture. 5. Buy or lease options (for 2 years): Buy for $40,000 with salvage value of $6000; or Lease at $2500/month What is IRR of lease? 6. Two mutually exclusive alternatives (MARR=6%) - Which alternative will you choose based on incremental analysis ? Year 0 1 Alt. 1 -$1000 + 1500 Alt.2 -$2000 2800 Incremental Alt.2 - Alt. 1 -$1000 + 1300 7. Excel Problems: Which alternative you choose based on the incremental analysis ? Pls do this in excel. Machine Y Machine X $700 Initial Cost $200 120 Uniform annual benefit 95 150 Salvage value 50 12 Useful life, in years 6 8. A 401(k) is invested in stocks. On September 13, 2016 $1500 was deposited & another $2200 on June 7, 2017. If account worth $3840 on August 7, 2017, what annual rate of return has been earned? Pls do this in excel using XIRR function