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[answered] Mary wants to make a deposit on 2/1/2015 to be able to with


5. Mary wants to make a deposit on 2/1/2015 to be able to withdraw $2,500 at the beginning of each year starting 2/1/2020 for five years. The interest rate is 8 percent.??What is the amount of the deposit that Mary needs to make on 2/1/2015?


6. Determine the market price of a $1,500,000, 12-year, 9% (pays interest semiannually) bond issue sold to yield an effective rate of 8%. Also, determine the amount of any possible bond premium or discount.



A/c balance required for

 

withdrawls P?[1-(1?(1+r)^n)]?r Here,

 

1 Interest rate per annum 8.00% 2 Number of years 5 3 Number of compoundings per

 

per annum 1 4=

 

1?3 Interest rate per period ( r)...

 


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