FIN 302 Exam 1 Fall 2023 Solution TTH Post

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%