Name: Assignment #10

Instructions: Do NOT enter any words with your answer, only numbers. For example, do NOT answer 7.83 years. Instead, simply enter 7.83. Also, be careful about rounding errors. Round your answer as indicated in the question.

Question 1   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 2   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 3   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 4   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 5   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 6   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 7   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 8   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 9   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.)
 
     

 
Question 10   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 11   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 12   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 13   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.)