Chapter 5 Homework 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14.

SOLUTIONS
The solution to each question the assignment is given below. Detailed calculation is in the excel sheet which is provided in addition to this sheet.
Answer to Question 1
    Question No.
    Solution
    1(a)
    First year interest
    $ 90.00
    1(b)
    Second year interest
    $ 90.00
    1(c )
    Tenth year interest
    $ 90.00
Note : Detail calculation is given in excel sheet attached to this solution as working note.
Answer to Question 2
    Question No.
    Future value
    2(a)
    $ 289.00
    2(b)
    $ 408.00
    2(c )
    $ 221.00
    2(d)
    $ 272.00
Note : Detail calculation is given in excel sheet attached to this solution as working note.
Answer to Question 3
    Question No.
    Years
    3
    16.67 year
Note : Detail calculation is given in excel sheet attached to this solution as working note.
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