前导课金融计算器的使用.ppt

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * An investment (a bond) will pay $1 ,500 at the end of each year for 25 years and on the date of the last payment will also make a separate payment of $40,000. If your required rate of return on this investment is 4%, how much would you be willing to pay for the bond today? N=25 I/Y=4 PV=? PMT=1500 FV= 40000 PV = -38437.79 An investment (a bond) will pay $750 at the end of each half-year for 25 years and on the date of the last payment will also make a separate payment of $40,000. If your required rate of return on this investment is 4%, how much would you be willing to pay for the bond today? N=50 I/Y=2 PV=? PMT=750 FV=40000 PV = -38428.82 A bank quotes certificate of deposit (CD) yields both as annual percentage rates (APR) without compounding and as annual percentage yields (APY) that include the effects of monthly compounding. A $100,000 CD will pay $1 10,471.31 at the end of the year. Calculate the APR and APY the bank is quoting. N=12 I/Y=? PV=-100000 PMT=0 FV=110471.31 I/Y=0.833 APR = 0.833%×12 = 10% 100000×(1+APY) = 110471.31 APY=10.471% A client has $202,971 .39 in an account that earns 8% per year, compounded monthly. The clients 35th birthday was yesterday and she will retire when the account value is $1 million. A. At what age can she retire if she puts no more money in the account? B. At what age can she retire if she puts $250 per month into the account every month, beginning one month from today? N=? I/Y=0.667 PV=202971.39 PMT=0 FV=-1000000 N=240 35+20 = 55 N=? I/Y=0.667 PV=202971.39 PMT=250 FV=-1000000 N=220.025 35+18.335 = 53.335 A borrower is considering to borrow on the mortgage is $100,000 with monthly compounding. Assuming the ARM is reset at 5.500% (i.e., the remaining balance on the loan will now be repaid with 5.500% nominal annual interest), which of the three loans wil