# fiancee questions

who can solve this 6 questions in 40 mins gets tipped

assume 1 year= 12months=360 days

to minimize rounding errors.use at least 4 decimal

Q 1- You want to borrow 40,000 to buy a landcruiser. The APR is 12% coumpounded monthly. The bank wants you to pay equal amounts every period over the next four years. The loan ill be fullly paid when the ast payment is made. How much is the monthly payment amount for the next 48 payments?

Q2- Use same data as in problem 1.

Immediately after making the 24th monthly payment, you decide to buy a new car. You want to pay off the remaining balance with a single check. How much is the remaining balance?

q3- use same effective rate in problem 1, but adjust properly for daily rat

suppose you want to make automatic daily payments..how much will be the daily amount for the next 1440(or360 times4) daily payments.

q4- Today is john 20th he wants to save for retirement. Given the economy he plans to work till his 70th birthday effective annual rate is 10%

He wants to make a signal deposit of 10000 today and withdraw lump sun on his 70th birthday. Alternatively he can make a larger signal depostie on his 30th birthday and get the same lunp-sun amount on his 70th birthday. How much will be required amount deposited on his 30th birthday

q5- what is the value at date 9 of perpetual stream of \$5000 that begins at date 17.

effictive period is 10%

q6- bill borrows 1000,000 today to buy a house .APR is 6%compounded monthly.First payment is due on one month from today.Bill agrees to pay 2000 per month, instead of the full monthly payments. the deficiency is automatically added to his loan amount. How much is the loan balance after 10 years or immediately 120th monthly payment of 2000\$?