# FIN 302 Exam 1 Fall 2023 Solution TTH Post

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NOTE: There are 4 versions of the exam. You can select the version using the Tabs for each sheet at the bottom. Problem 1 deposit 200 Period: 0 1 r 8% APR Amount: 200 \$204.00 m 4 T 6 FV \$225.2325 Problem 2 Borrow \$236,000 n 30 r 9% APR PVFA \$124.2819 PMT \$1,898.91 \$1,898.91 Bal in 6 Balance \$223,752.70 \$223,752.70 Problem 3 YEAR 1 2 3 4 5 CASH FLOW \$2,000 \$1,800 \$1,700 \$1,600 \$1,400 \$2,000 \$3,980 \$6,038 \$8,182 \$10,318 r 9% PV \$8,530.34 FV \$15,593.80 Time 1 year from now 2 years from now 3 years from now 4 years from now 5 years from now Expected rate 10% 11% 10% 9% 10% \$2,000.00 \$4,000.00 \$6,140.00 \$8,354.00 \$10,505.86 \$13,056.45 \$16,192.66 Problem 4 n 8 0 1 2 pmt 2000 \$2,000.00 \$4,100.00 \$6,305.00 r 5% FV \$20,053.13 Problem 5
Boorow 90000 int princ 90000 n 10 1 1125 \$327.01 \$89,672.99 r 15% 2 1120.9123173 \$331.10 \$89,341.88 pmt \$1,452.01 3 1116.7735386 \$335.24 \$89,006.64 interest in 3 4 1112.5830252 \$339.43 \$88,667.21 interest in \$1,116.77 5 1108.3401303 \$343.67 \$88,323.54 Problem 6 P0 50 P1 53 0.06 m 4 APR EAR 24.0000% 26.2477% Problem 7 EAR 15% m 4 APR 14.2232% 0.15 Problem 8 n 12 coupon 9% r 7% PVFA \$7.9427 PV cpn \$714.84 PV Par 444.01195924 price \$1,158.85 \$1,158.85 new r 5% new r 11 PVFA \$8.3064 PV cpn \$747.58 PV Par 584.67928909 price \$1,332.26 \$1,332.26 return 22.7296% cap gain 14.9633%
cy 7.7663% 22.73% Retirement APR 9% FVFA \$75.4241 Year Payment per year 0 1-5 \$1,200 \$90,508.96 5-10 \$1,500 \$254,844.37 1-15 \$1,800 \$534,768.45 16-20 \$700 \$890,073.71 retire rate 3% live for 20 PVFA \$180.31 withdraw \$4,936.33 \$4,936.33 goal \$7,000 need at retire \$1,262,176.40 pmt \$5,633.47 FV \$1,262,176.40 Return 16.24%