- Draw time lines from your perspective illustrating the following: You lend $500 today, receive simple interest of 5% for each of the next 6 years and repayment of the principal in year 6.
- If the first future CF occurs at the end of year 4, the formulas for the PVA and PVP would give values as of the end of year ________?
- If you can earn 5% per year and want to be able to withdraw $200,000 for each of the 20 years of planned retirement, how much would you have to have accumulated by the time you begin your retirement? Be sure to use a time line in solving for this amount.
- At 5% per year, in order to achieve your answer to #3, how much must you invest for each of your 40 working years just prior to your retirement?
- If you take out a 30-year fixed-rate $300,000 mortgage at an annual rate of 6%, what would be your fixed MONTHLY payment on the loan?
- With the loan in #5, what would be your remaining balance after you
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