Homework Answers
Using excel to explain amortization table
29
| Years | Beginning Balance=30000 | PMT =PMT(6%,3,-30000) | Interest part of PMT | Principal part of PMT= PMT-Interest | Ending Balance |
| 1.00 | 30000.00 | 11223.29 | 1800.00 | 9423.29 | 20576.71 |
| 2.00 | 20576.71 | 11223.29 | 1234.60 | 9988.69 | 10588.01 |
| 3.00 | 10588.01 | 11223.29 | 635.28 | 10588.01 | 0.00 |
30.PV =1000
Rate =10%
Number of Years =500/365
FV =PV*e^(rt)=1000*e^(10%*500/365) =1146.81
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You agree to deposit $500 at the beginning of each month into a
bank account for the next 24 months. At the end of the 24th month,
you will have $13,000 in your account. If the bank compounds
interest monthly, what annual interest rate will you have
earned?
Note: Only use the formula listed and show the steps of how you
reached the answer, I don't need to know just the answer, I'm
trying to learn. Thank you. Don't use...
please do the work by hand, use the formula from the formula
sheet
17. Hand Clapper, Inc. is considering a 4-year project to manufacture clap-command garage door openers. The project requires an initial investment of $18 million in machinery that will be depreciated using 3-year MACRS. The 3-year MACRS depreciation rates by year are Year 1 - 33.33%; Year 2 - 44.45%; Year 3 - 14.81%; and Year 4: 7.41%. The machinery will have no salvage value at the end...
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