BMTH 1003

HANDOUT-2 ANSWERS

1.
a.
b.
c.
d.

September 30, 2005

January 2, 2006
$ 995.54
5.5%

e. 94 days
f. 14.10
g. 1009.64

a.
b.
c.
d.

February 28, 2006

January 31, 2007
$ 708..78
4.8%

e. 0.923288 years
f. 31.41
g. 749.19

2.

3.

4.

a.
b.
c.
d.

March 3, 2011; 154 days=0.421918 years; $18.23; $738.23

July 21, 2011; 123 days=0.336986 years; $15.50; $935.50
April 4, 2009; 154 days=0.172603 years; $16.51; $1291.51
Dic 3, 2008; 156 days=0.427397 years; $40.60; $2040.60

Computing maturity values

a. $3,024.84
b. $418.59
c. $1,174.93
d. $1,705.34
e. $674.10

5.

Finding present value

a. $519.12
b. $3,538.86
c. $7,231.57

6.

$ 9,723.64

7.

$247,800.62

8.

$99,054.15

BMTH 1003.

9.

2.74%

10.

August 12
Original loan balance
November 1
Unpaid loan balance
December 15
Unpaid loan balance
February 20
Final payment
11.

ANSWERS HANDOUT # 2.

$15000.00
$10224.69
$3532.89
$3576.66

August 12
Original loan balance
November 1
Unpaid loan balance
December 15
Unpaid loan balance
February 20
Final payment

$18000.00
$11069.63
$5159.70
$5223.63