Please answer all 2 questions. 4) What is the present value of a series of48 qua

Question

Please answer all 2 questions.

4) What is the present value of a series of48 quarterly deposits (starting at quarter 1) when the first deposit is S500 and the deposits increase by $50 each quarter starting with the second quarter? The nominal annual interest rate is 10 and is compounded weekly Quarterly interest rate? Present value? NAME 5) You receive a $35,000 car loan at 6% nominal annual for 60 months. Interest is compounded daily and you make monthly payments. Answer the following questions What is your monthly interest rate What is your monthly payment? How much principle do you pay on your 12th payment?

Explanation / Answer

Solution:

4.Quarterly Interest Rate: 2.5%

Present Value: at first Quarter=487.80

5.

Monthly Interest Rate=0.5%

Monthly Payment=758.33

On 12 th Payment=529.94

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