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Get Help Now!Work should be done individually.Word-process your solutions within this template and show all steps used in arriving at the final answers. Incomplete solutions will receive partial credit. Copy and paste all necessary data and create tables if needed.
Problem 1
Compute the future value of $1000 at 8% compounded annually for 5 years.
Problem 2
Compute the present value of $1000 due after 5 years at 12%, compounded semiannually.
Problem 3
Compute the future value of a 8%, 10-year ordinary annuity that pays $500 each year.
Problem 4
Suppose the U.S. Treasury offers to sell you a bond for $676.84. No payments will be made until the bond matures 8 years from now, at which time it will be redeemed for $1,000. What interest rate would you earn if you bought this bond at the offer price?
Problem 5
Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 15.00%, with interest paid monthly, what is the card’s EFF%?
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