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Outline You should have the correct answer and show your working or correct explanation to get one

01 / 10 / 2021 Research Papers

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Outline You should have the correct answer and show your working or correct explanation to get one.. 1 answer below » Outline You should have the correct answer and show your working or correct explanation to get one mark (very brief or one line answers are not acceptable). An incorrect answer or an answer without the working will be given zero. No part marks. For questions where two or more answers are requested you must get all parts correct to get the one mark. Include cash flow maps or tables wherever possible. Avoid rounding error. Read the questions carefully Document Preview: Outline View complete question » Outline You should have the correct answer and show your working or correct explanation to get one mark (very brief or one line answers are not acceptable). An incorrect answer or an answer without the working will be given zero. No part marks. For questions where two or more answers are requested you must get all parts correct to get the one mark. Include cash flow maps or tables wherever possible. Avoid rounding error. Read the questions carefully Document Preview: Outline
You should have the correct answer and show your working or correct explanation to get one mark (very brief or one line answers are not acceptable). An incorrect answer or an answer without the working will be given zero. No part marks. For questions where two or more answers are requested you must get all parts correct to get the one mark. Include cash flow maps or tables wherever possible. Avoid rounding error.
Read the questions carefully
Question 1
Now that they have accumulated a deposit of 85,000 Jack and Jill take out a housing loan to purchase a home. The house costs $655,000. It is to be repaid in equal monthly instalments over a term of 20 years. The interest rate quoted by the bank is an effective annual rate of 7.5%pa. Jack has misplaced the paperwork showing the annual nominal rate (j12) with monthly compounding.
How much is the monthly repayment?
How much do Jack and Jill owe the bank immediately before making the 120th repayment?
After making the 160th repayment Jack and Jill receive an amount of $50,000, which they use to reduce their loan. They wish to keep the same term of the loan and reduce their repayments. How much is the new repayment, if the interest rate remains the same?
(Answers to must be accurate to the nearest dollar)
Question 2
Today is Stanley’s 55th birthday. He plans to retire on his 65th birthday. He wants to put aside the same sum of money every birthday (starting next birthday) up to and including his 65th. He then wants to be able to withdraw $8000 every birthday (starting with his 65th) up to and including his 85th birthday. He believes that an interest rate of 7% pa is a reasonable estimate of the opportunity cost of funds. How much does he need to put away each birthday?
(Your answers should be accurate to the nearest dollar)
Question 3
A perpetuity with the first annual cash flow paid at the beginning of year 5 is equivalent to receiving $109,000 in 18 years’ time. Assume that the perpetuity and the… Attachments: Q-Attachment…..docx View less » Jul 29 2015 12:20 PM



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