Question: QUESTION 1 A 11-year promissory note for $6,752 dated today bearing interest at 4% compounded quarterly is discounted four years after the date of issue

 QUESTION 1 A 11-year promissory note for $6,752 dated today bearing

QUESTION 1 A 11-year promissory note for $6,752 dated today bearing interest at 4% compounded quarterly is discounted four years after the date of issue at 6% compounded semi-annually. What are the proceeds of the note? Please express your answer to the nearest dollar. Sample input: 2456 for $2456. You do NOT need to count days. QUESTION 2 Greg owes two debt payments - a payment of $5,338 that was due in 11 months ago and a payment of $1,694 due in 6 months. If Greg makes a payment now, what would this payment be if money is worth 6.96% compounded semi-annually? Assume a focal date of today. Please express your answer to the nearest dollar. Sample input: 2456 for $2456. QUESTION 3 A debt of $8,149 is to be settled by two equal payments due in 1 months and 8 months respectively. Determine the amount of the equal payments if money is worth 5% compounded monthly and the focal date is today, Please express your answer to the nearest dollar. Sample input: 2456 for $2456, QUESTION 4 Payment of $883 due 2 months ago and $435 due today are to be repaid by a payment of $400 one month from today and the balance in 11 months from now. If money is worth 6% compounded monthly and the agreed focal date is 11 months from today. What is the size of the final payment? Please express your answer to the nearest dollar. Sample input: 2456 for $2456, Click Save and Submit to save and submit. Click Save All Answers to save all answers Say

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!