1. Caterina Sforza has the opportunity to make an investment of $600,000. If she...
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Finance
1.
Caterina Sforza has the opportunity to make an investment of $600,000. If she makes this investment now, she will receive $120,000, $150,000, and $626,000 one, two, and three years from today, respectively. The appropriate discount rate for this investment is 9 percent. What is the annual return on the investment?
2.
Avicenna bought a $24,000 car with 20 percent down and financed the rest with a five-year loan at 4% percent stated annual interest rate, compounded monthly. What is his monthly payment? Payments are made at the end of each period.
3.
Hlose d'Argenteuil is 23 years old and will place $3,000 year-end deposits each year into a stock index fund that earns an average of 8.5% per year for the next 17 years. How much money will she have in the account 15 years later at age 55 if the account continues to earn 8.5% per year but she discontinues making new contributions?
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