just need you to answer/solve these questions. thanks. 1) Simple interest vs compound interest: first city bank pays 7 percent simple interest on its saving account balances, whereas second city bank pays 7 percent interest compounded annually. If you made a $6,000 deposit in each bank, how much more money would you earn from your second city bank account at the end of 9 years? 2) Calculating future values: for each of the fallowing, compute the future value:
Present value years interest rate future value $ 2,250 11 13% 8,752 7 9 76,355 14 12 183,796 8 6
3) Calculating present values: You have just received notification that you have won the $1 million first prize in the centennial lottery. however, the prize will be awarded on your 100Th birthday ( assuming you are around to collect) 80 years from now. What is the present value of your windfall if the appropriate discount rate is 9 percent?
4) Present value and multiple cash flows: Wainright co. has identified an investment project with the following cash flows. If the discount rate is 10%, what is the present value of these cash flows? what is the present value at 18%? at 24%?
Year Cash flow 1 $ 720 2 930 3 1,190 4 1,275
5) Calculating present values: An investment will pay you $43,000 in 10 years. If the appropriate discount rate is 7 percent compounded daily, what is the present value?
To receive full credit: Answer the questions and problems fully and completely, show all calculations not just the end answer (I know some of these are in the back of the text), utilize problems and concepts from chapter material in answering your questions.
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