Please complete the 3 problems in the Mathematics of Finance
Please complete the 3 problems in the Mathematics of Finance in this document.00000000Extra Credit Problems for Exam 2 (3 points)Details of the Finance apps screen:N – number of periods for the length of time.For example; 5 years compounded monhly would be 60 (5 years X 12 months)I% – The annual interest rate. 7.5% would be entered as 7.5 NOT .075.PV – Present value, the value you start with.PMT – The amount of payment (for a loan) or the amount deposited regularly likemonthly for an annuity.FV – Future Value.The amount of money the account grows to.P/Y – Periods per year.Monthly would be 12, quarterly would be 4, semi-annually would be 2, etc.C/Y – How often it is compounded yearly.For our purposed P/Y and C/Y will always be the same.Note 1: If two of PMT, PV, and FV are used in a single calculation then ONE of themmust be negative.It does not matter which of the two you make negative.Note 2: If after a calculation you get a negative value for PMT, PV, or PV just ignore the negative sign.The amounts should be postive.Please complete the 3 problems on the next page.Fill in each value listed even if it is azero.After completing the problems just make a copy of the completed problems page, not both, and email it to me by 11:00 am, Wednesday, March 18.You can send itsooner if you like and be done.You decide to invest a $16,000 bonus in a money market fund that guarantees a 5.5% annual interest rate compounded monthly for 7 years.How much is in the account at the end of the 7 years?Fill in each of the values below.Do not leave any value blank.Round money amount to 2 decimal places (cents).Allyson, a college professor, contributed $950 a month to the CREF stock fund.For the past 10 years this fund has returned 4.25%, compounded monthly.How is her account at the end of the 10 years?Fill in each of the values below.Do not leave any value blank.Round money amount to 2 decimal places (cents).Find the mortgage payment for a $450,000 mortgage at an interest rate of 3.25% for 30 years.Fill in each of the values below.Do not leave any value blank.Round money amount to 2 decimal places (cents).Provide the answer here:________________N = _______I% = _______PV = ____________PMT = ______________FV = ______________ P/Y = _______ C/Y= _______ Provide the answer here:________________N = _______I% = _______PV = ____________PMT = ______________FV = ______________P/Y = _______ C/Y= _______ Provide the answer here:________________N = _______I% = _______PV = ____________ PMT = ______________FV = ______________P/Y = _______ C/Y= _______
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