公司理财精要Cp004.doc

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公司理财精要Cp004.doc

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公司理财精要Cp004

SOLUTIONS TO TEST BANK PROBLEMS Chapter 4 28. Interest earned = $3,400 × .045 × 5 = $765 29. Future value = $10,000 + ($10,000 × .0375 × 2) = $10,750 30. Simple interest = $125,000 × .08 × 3 = $30,000 Compound interest = [$125,000 × (1.08)3] ? $125,000 = $32,464 Interest on interest = $32,464 ? $30,000 = $2,464 31. Simple interest = $5,000 × .045 × 10 = $2,250 Compound interest = [$5,000 × (1.045)10] ? $5,000 = $2,764.85 Interest on interest = $2,764.85 ? $2,250 = $514.85 32. The Local Bank: $25,000 × 1.05 = $26,250 The Outta Town Bank: Enter 4 4.8/4 -25,000 N I/Y PV PMT FV Solve for 26,221.77 Difference = $26,250 ? $26,221.77 = $28.23 33. Joe Root: FV = $6,000 + ($6,000 × .04 × 20) = $10,800 Betty DoGood: Enter 20×12 4/12 -6,000 N I/Y PV PMT FV Solve for 13,335.49 Difference = $13,335.49 ? $10,800 = $2,535.49 34. Enter 6×12 8/12 -13,400 N I/Y PV PMT FV Solve for 21,620.93 35. Enter 25×2 10/2 -121,900 N I/Y PV PMT FV Solve for 1,397,876.03 36. Enter 25×12 11/12 -10,000 N I/Y PV PMT FV Solve for 154,478.89 Enter (40–25)×2 7/2 -154,478.89 N I/Y PV PMT FV Solve for 433,590.38 37. Enter 5×4 8/4 -2,500 N I/Y PV PMT FV Solve for 3,714.87 $3,714.87 + $2,500 = $6,214.87 Enter 5 12 -6,214.87 N I/Y PV PMT FV Solve for 10,952.72 38. FV = $2,000 × (1 + .09)60 = $352,062.58 Enter 60 9 -2,000 N I/Y PV PMT FV Solve for 352,062.58 39. 1.66667 = 1.005t ln1.66667 = t × ln1.005 .5108276 = .0049875t t = 102.42 Enter 6/12 -150 250 N I/Y PV PMT FV Solve for 102.42