Fin 515 Week 2

In: Business and Management

Submitted By krystalleander
Words 1228
Pages 5
Chapter 4 (pages 132–136):
3. Calculate the future value of $2000 in
a. five years at an interest rate of 5% per year; FV5= 2,000*1.05^5=2, 552.56
b. ten years at an interest rate of 5% per year; and FV10= 2,000*1.05^10=3,257.79
c. five years at an interest rate of 10% per year. FV5=2,000*1.1^5=3,221.02
d. Why is the amount of interest earned in part (a) less than half the amount of interest earned in part (b)?
The amount of interest is less in part a than in part b because in the last 5 years you get interest on the interest earned in the first 5 years as well as interest on the original $2,000.
4. What is the present value of $10,000 received
a. twelve years from today when the interest rate is 4% per year; PV=10,000/1^12=6,245.97
b. twenty years from today when the interest rate is 8% per year; and PV=10,000/1.08^20=2,145.48
c. six years from today when the interest rate is 2% per year? PV=10,000/1.02^6=8,879.71
5. Your brother has offered to give you either $5,000 today or $10,000 in 10 years. If the interest rate is 7% per year, which option is preferable? The 10,000 in ten years is worth more so it would be preferable. PV=10,000/1.07^10= 5,083.49
6. Consider the following alternatives.
i. $100 received in 1 year ii. $200 received in 5 years iii. $300 received in 10 years

a. Rank the alternatives from most valuable to least valuable if the interest rate is 10% per year. Amount/Years/pv
Option 1 =100/1/90.9090909
Option 2 =200/5/124.184265
Option 3 =300/10/115.662987 Ranking-option 2, option 3, and then option 1

b. What is your ranking if the interest rate is only 5% per year? Amount/years/pv
Option 1 =100/1/95.2380952
Option 2 =200/5/156.705233
Option 3 =300/10/184.173976
Ranking-option 3, option 2, and then option 1

c. What is your ranking if the interest rate is 20% per year?
Amount/years/pv
Option 1…...

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