Please show work in Microsoft Excel for the questions below Bob bought some land costing...
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Please show work in Microsoft Excel for the questions below
Bob bought some land costing $16,240. Today, that same land is valued at $46,517. How long has Bob owned this land if the price of land has been increasing at 6% per year?
19.09 years
20.24 years
18.06 years
16.22 years
17.19 years
You are in talks to settle a potential lawsuit. The defendant has offered to make annual payments of $24,000, $29,500, $58,000, and $87,000 to you each year over the next four years, respectively. All payments will be made at the end of the year. If the appropriate interest rate is 4.6 percent, what is the value of the settlement offer today?
$198,500.00
$154,011.36
$181,232.87
$173,262.78
$185,881.39
You just won the $105 million Ultimate Lotto jackpot. Your winnings will be paid as $3,500,000 per year for the next 30 years. If the appropriate interest rate is 6.8%, what is the value of your windfall?
$45,795,975.84
$43,832,356.97
$47,332,356.97
$44,318,686.30
$42,102,751.99
You want to buy a house and will need to borrow $190,000. The interest rate on your loan is 5.11 percent compounded monthly and the loan is for 20 years. What are your monthly mortgage payments?
$1,265.49
$1,260.12
$1,282.38
$1,328.76
$1,223.31
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