Assignment #10

Question 1

 

Fill in the Blank

(1.0000 points)

 

Question:

How long will it take you to pay off a loan of $7000 if you make monthly payments of $113 and the bank is charging you 14% annually? (Round your answer to two decimal places.)

 

 

 

 

 

Question 2

 

Fill in the Blank

(1.0000 points)

 

Question:

How many years will it take you to accumulate $39400 if you are able to deposit $146 monthly into a bank account that is paying 14% annually? (Round your answer to two decimal places.)

 

 

 

 

 

Question 3

 

Fill in the Blank

(1.0000 points)

 

Question:

How much should you deposit into a bank account quarterly in order to replace a roofing system you expect to cost $10800 in 2 years if the account pays you 14% annual interest? (Round your answer to two decimal places.)

 

 

 

 

 

Question 4

 

Fill in the Blank

(1.0000 points)

 

Question:

If you purchase a lot for $15000 today, how many years will it take to double your investment if the property is expected to increase in value at annual rate of 6% compounded monthly? (Round your answer to two decimal places.)

 

 

 

 

 

Question 5

 

Fill in the Blank

(1.0000 points)

 

Question:

If you purchase a lot today for $ 22200, how much would the lot be worth if it is expected to increase in value at an annual rate of 14%, compounded semiannually, until you choose to sell it 14 years from now? (Round your answer to two decimal places.)

 

 

 

 

 

Question 6

 

Fill in the Blank

(1.0000 points)

 

Question:

If you purchased a lot for $ 18000 7 years ago, what is your expected annual rate of return if you can sell the lot for $ 22070 today and you assume monthly compounding? (Round your answer to two decimal places--xx.xx%)

 

 

 

 

 

Question 7

 

Fill in the Blank

(1.0000 points)

 

Question:

What is the expected annual rate of return on a property which you purchased 14 years ago for $20200 and it pays you $299 monthly if you sell the property for $25010 today? (Round your answer to two decimal places--xx.xx%)

 

 

 

 

 

Question 8

 

Fill in the Blank

(1.0000 points)

 

Question:

What is your expected rate of return on a 17 year sandwich lease on a property which pays you $193 monthly if you purchase the lease for $25100? (Round your answer to two decimal places--xx.xx%)

 

 

 

 

 

Question 9

 

Fill in the Blank

(1.0000 points)

 

Question:

What is your monthly payment on a mortgage loan of $6800 for 16 years if the bank charges 15% annually compounded monthly? (Round your answer to two decimal places.)

 

 

 

 

 

Question 10

 

Fill in the Blank

(1.0000 points)

 

Question:

What should you pay for a 17 year sandwich (a lease where you pay rent to the landlord and you lease the property to another who pays rent to you) lease on a property which pays you $1592 (profit; the difference between what you pay the landlord and what you collect from the tenant) quarterly if you expect to earn 7% annually? (Round your answer to two decimal places.)

 

 

 

 

 

Question 11

 

Fill in the Blank

(1.0000 points)

 

Question:

What should you pay for a property today which you expect to sell for $27800 in 8 years if you can earn 13% annually, compounded monthly? (Round your answer to two decimal places.)

 

 

 

 

 

Question 12

 

Fill in the Blank

(1.0000 points)

 

Question:

What should you pay for a property which pays you $1528 monthly if you expect to earn 9% annually for 9 years and you expect to sell the property for $112827? (Round your answer to two decimal places.)

 

 

 

 

 

Question 13

 

Fill in the Blank

(1.0000 points)

 

Question:

You are able to deposit $1008 quarterly into a bank account that is paying 9% annually. How much will you be able to accumulate after 6 years? (Round your answer to two decimal places.)