# . Present Value. Homework Help

Note : Solution to each problem is given along with the answers

1. Future Value. What is the future value of

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a. \$773 invested for 14 years at 11 percent compounded annually?

b. \$210 invested for 7 years at 6 percent compounded annually?

c. \$650 invested for 10 years at 9 percent compounded annually?

d. \$615 invested for 7 years at 14 percent compounded annually?

2. Present Value. What is the present value of

a. \$803 to be received 10 years from now at a 15 percent discount rate?

b. \$406 to be received 6 years from now at a 5 percent discount rate?

c. \$300 to be received 10 years from now at a 9 percent discount rate?

d. \$632 to be received 14 years from now at a 14 percent discount rate?

3. Future Value of an Annuity. What is the future value of

a. \$557 a year for 14 years at 5 percent compounded annually?

b. \$748 a year for 8 years at 10 percent compounded annually?

c. \$442 a year for 8 years at 12 percent compounded annually?

d. \$976 a year for 12 years at 5 percent compounded annually?

4. Present Value of an Annuity. What is the present value of

a. \$1,163 a year for 15 years at an 8 percent discount rate?

b. \$329 a year for 7 years at a 15 percent discount rate?

c. \$365 a year for 10 years at a 10 percent discount rate?

d. \$883 a year for 6 years at a 5 percent discount rate?

5. How many years will it take to grow

a. \$711 to a value of 2,028.19 at a compound rate of 14 percent?

b. \$321 to a value of 450.22 at a compound rate of 7 percent?

c. \$931 to a value of 1,305.78 at a compound rate of 7 percent?

d. \$1,191 to a value of 4,189.79 at a compound rate of 15 percent?

6. Interest Rate. At what interest rate will it take to grow

a. \$759 to a value of 1,017.13 over 6 years?

b. \$614 to a value of 1,082.08 over 5 years?

c. \$701 to a value of 1,311.16 over 6 years?

d. \$1,190 to a value of 4,163.16 over 12 years?

7. Annuity. How many years will it take for a payment of

a. \$825 to grow to 17,642.03 at a compound rate of 10 percent?

b. \$356 from a future value of 13,271.58 at a compound rate of 12 percent?

c. \$1,098 from a future value of 6,189.53 at a compound rate of 6 percent?

d. \$733 from a future value of 14,365.80 at a compound rate of 5 percent?

8. Annuity. At what interest rate will a payment of

a. \$346 grow to 12,898.78 over a period of 15 years?

b. \$1,056 grow to 10,834.35 over a period of 8 years?

c. \$696 grow to 22,113.65 over a period of 15 years?

9. Car Loans (Hint: P/Y=12). How much is a car loan with a payment of

a. \$257 per month for 3 years at 6% interest per year?

b. \$437 per month for 5 years at 15% interest per year?

c. \$274 per month for 6 years at 7% interest per year?

d. \$253 per month for 2 years at 7% interest per year?

10. Car Loans (Hint: P/Y=12). How many months will you pay on a car loan of

a. \$18,708 with a payment of 406.76 per month at 11% interest per year?

b. \$10,112 with a payment of 276.33 per month at 14% interest per year?

c. \$32,705 with a payment of 1,101.96 per month at 13% interest per year?

d. \$34,136 with a payment of 1,638.97 per month at 14% interest per year?

11. Car Loans (Hint: P/Y=12). What is the interest rate on a loan of

a. \$8,000 with a payment of 218.61 per month for 4 years?

b. \$16,000 with a payment of 368.47 per month for 4 years?

c. \$24,000 with a payment of 521.82 per month for 5 years?

d. \$32,000 with a payment of 664.27 per month for 5 years?

12. Mortgages (Hint: P/Y=12, House cost = Loan Value/0.9).

What is the house cost on a 10 percent down mortgage with payments of

a. \$4,369.66 per month for 30 years at 10 percent interest?

b. \$1,626.83 per month for 15 years at 11 percent interest?

c. \$3,724.21 per month for 30 years at 8 percent interest?

d. \$4,469.19 per month for 15 years at 14 percent interest?

13. Mortgages (Hint: P/Y=12). What is the interest rate on a mortgage of

a. \$863,001 with a payment of 5,174.13 for 30 years?

b. \$125,709 with a payment of 1,275.02 for 15 years?

c. \$546,227 with a payment of 6,906.73 for 30 years?

d. \$478,167 with a payment of 3,781.31 for 15 years?

14. Mortgages (Hint: P/Y=12). What is the payoff on a 30 year, 6% mortgage of

a. \$255,413 with a payment of 1,531.33 with 7 years remaining?

b. \$530,493 with a payment of 3,180.57 with 9 years remaining?

c. \$297,266 with a payment of 1,782.26 with 13 years remaining?

d. \$108,947 with a payment of 653.19 with 13 years remaining?
1. Future Value. What is the future value of
a. \$773 invested for 14 years at 11 percent compounded annually?
b. \$210 invested for 7 years at 6 percent compounded annually?
c. \$650 invested for 10 years at 9 percent compounded annually?
d. \$615 invested for 7 years at 14 percent compounded annually?
2. Present Value. What is the present value of
a. \$803 to be received 10 years from now at a 15 percent discount rate?
b. \$406 to be received 6 years from now at a 5 percent discount rate?
c. \$300 to be received 10 years from now at a 9 percent discount rate?
d. \$632 to be received 14 years from now at a 14 percent discount rate?
3. Future Value of an Annuity. What is the future value of
a. \$557 a year for 14 years at 5 percent compounded annually?
b. \$748 a year for 8 years at 10 percent compounded annually?
c. \$442 a year for 8 years at 12 percent compounded annually?
d. \$976 a year for 12 years at 5 percent compounded annually?
4. Present Value of an Annuity. What is the present value of
a. \$1,163 a year for 15 years at an 8 percent discount rate?
b. \$329 a year for 7 years at a 15 percent discount rate?
c. \$365 a year for 10 years at a 10 percent discount rate?
d. \$883 a year for 6 years at a 5 percent discount rate?
5. How many years will it take to grow
a. \$711 to a value of 2,028.19 at a compound rate of 14 percent?
b. \$321 to a value of 450.22 at a compound rate of 7 percent?
c. \$931 to a value of 1,305.78 at a compound rate of 7 percent?
d. \$1,191 to a value of 4,189.79 at a compound rate of 15 percent?
6. Interest Rate. At what interest rate will it take to grow
a. \$759 to a value of 1,017.13 over 6 years?
b. \$614 to a value of 1,082.08 over 5 years?
c. \$701 to a value of 1,311.16 over 6 years?
d. \$1,190 to a value of 4,163.16 over 12 years?
7. Annuity. How many years will it take for a payment of
a. \$825 to grow to 17,642.03 at a compound rate of 10 percent?
b. \$356 from a future value of 13,271.58 at a compound rate of 12 percent?
c. \$1,098 from a future value of 6,189.53 at a compound rate of 6 percent?
d. \$733 from a future value of 14,365.80 at a compound rate of 5 percent?
8. Annuity. At what interest rate will a payment of
a. \$346 grow to 12,898.78 over a period of 15 years?
b. \$1,056 grow to 10,834.35 over a period of 8 years?
c. \$696 grow to 22,113.65 over a period of 15 years?
9. Car Loans (Hint: P/Y=12). How much is a car loan with a payment of
a. \$257 per month for 3 years at 6% interest per year?
b. \$437 per month for 5 years at 15% interest per year?
c. \$274 per month for 6 years at 7% interest per year?
d. \$253 per month for 2 years at 7% interest per year?
10. Car Loans (Hint: P/Y=12). How many months will you pay on a car loan of
a. \$18,708 with a payment of 406.76 per month at 11% interest per year?
b. \$10,112 with a payment of 276.33 per month at 14% interest per year?
c. \$32,705 with a payment of 1,101.96 per month at 13% interest per year?
d. \$34,136 with a payment of 1,638.97 per month at 14% interest per year?
11. Car Loans (Hint: P/Y=12). What is the interest rate on a loan of
a. \$8,000 with a payment of 218.61 per month for 4 years?
b. \$16,000 with a payment of 368.47 per month for 4 years?
c. \$24,000 with a payment of 521.82 per month for 5 years?
d. \$32,000 with a payment of 664.27 per month for 5 years?
12. Mortgages (Hint: P/Y=12, House cost = Loan Value/0.9).
What is the house cost on a 10 percent down mortgage with payments of
a. \$4,369.66 per month for 30 years at 10 percent interest?
b. \$1,626.83 per month for 15 years at 11 percent interest?
c. \$3,724.21 per month for 30 years at 8 percent interest?
d. \$4,469.19 per month for 15 years at 14 percent interest?
13. Mortgages (Hint: P/Y=12). What is the interest rate on a mortgage of
a. \$863,001 with a payment of 5,174.13 for 30 years?
b. \$125,709 with a payment of 1,275.02 for 15 years?
c. \$546,227 with a payment of 6,906.73 for 30 years?
d. \$478,167 with a payment of 3,781.31 for 15 years?
14. Mortgages (Hint: P/Y=12). What is the payoff on a 30 year, 6% mortgage of
a. \$255,413 with a payment of 1,531.33 with 7 years remaining?
b. \$530,493 with a payment of 3,180.57 with 9 years remaining?
c. \$297,266 with a payment of 1,782.26 with 13 years remaining?
d. \$108,947 with a payment of 653.19 with 13 years remaining?

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