Here is a useful calculator most of the work use the TVM http://www.fncalculator.com/financialcalculator?type=tvmCalculatorUse Excel to plug in the numbers
· Chapter 4 problems: 12, 24, 28, 30, 32, 34, 37, 41
· Chapter 5 problems: 4, 8, 12, 14, 16, 20, 26, 28, 34, 40, 42, 54, 58, combined problem 4&5-2
o Note that interest rates are always given as annual rates. If the payments are monthly, then the annual interest rate needs to be divided by 12 in order to get the rate per month. Use monthly rates in your calculations when the payments are monthly. Similarly, if the payments are monthly, then N is the number of months (not the number of years).
o It isn’t clear in problem 5-54, but assume that monthly payments are made on the car loan.
o Problem 5-58 has a typo in part a. Create a schedule for a 30-year loan (not 3-year). Also, assume that monthly payments are made on the home loan.
· Complete chapter 6 problems: 2, 14, 16, 18, 22, 26, and
· Complete chapter 6 “research it!” on page 226.
· Complete chapter 7 problems: 8, 12, 16, 20, 24, 26, 28, 36,
· Complete chapter 7 integrated mini-case on page 266.
· Complete chapter 8 problems: 10, 18, 20, 22, 26, 30, 34
