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Product code: Accounts-AW324


Q.1.    Ram borrowed $9000 at 7%. He pays $1100 in 2 months, $250 in 5 months, and $1300 in 7 months. What is the balance due in 10 months?


Q.2. Hari  was supposed to pay $1460 to Sam on March 2. Some time later Hari paid Sam an equivalent payment of $1552.84, allowing for a time value of money of 3.9% compounded monthly. When did  Hari make the payment?


Q.3. Ramesh borrowed $3200, $3600, and $4100 from his father on January 1 of

the three successive years at college. Ramesh and his father agreed that interest would

accumulate on each amount at the rate of 51/4 % compounded semiannually. Ramesh is to 

start repaying the loan one year after the $4100 loan. What consolidated amount will he owe at that time?


Q.4.  A payment stream consists of three payments: $2, 500 due today, $3, 000 due 100 days from today, and $3, 500 due 240 days from today. What single payment, 80 days from today, is economically equivalent to the payment stream if money can be invested at a rate of 5%?


Q.5.   A $4000 payment is scheduled for six months from now. If money can earn 6.75%, calculate the payment’s equivalent value at each of nine different dates - today and every 30 days for the next 240 days. (Hint: construct a time diagram)


Q. 6. Debts of $3000 due one year ago and $7000 due in eigth months are to be paid with one single payment six months from now. What is the size of the payment if money is worth 7.75% compounded monthly?


Q. 7. What annual rate of interest was earned if a $24, 000 investment for four months earned $736.00 in interest?


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Product code: Accounts-AW324

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