Transcription of ANSWERS TO SELECTED EXERCISES
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Example: bachelor of science
ANSWERS TO SELECTED EXERCISES
ANSWERSTO SELECTEDEXERCISESS ection11.(a)(i) (ii) (b)(i) (ii) (a) (b) A MORTGAGE25-yearApril/79 April/81 July/81mortgage11% $30,000$86,601$126,951$145,329$40,000$11 5,468$169,268$193,772$50,000$144,335$211 ,585$242,214$60,000$173,203$253,902$290, 657A725. (a)PaymentPaymentInterestPrincipalBalanc eNumber$70001$621$68$5536447262163558588 9362157564532546215256947565621465754181 6621415803601762135586301586212959224239 6212459718261062118603122311621126096141 262066145. (b)PaymentPaymentInterestPrincipalBalanc eNumber$70001$621$70$5516449262165556589 3362159562533146215356847635621485734190 6621425793611762136585302686213059124359 6212459718381062118603123511621136086271 2621661512A736. (a)PaymentPaymentInterestBalanceBalanceN umberReduction$36017$621$36$621298086213 0621235996212462117381062117621111711621 11621496126215621(125)Interestaddedon:12 3(123)(2)(b)PROPERMETHODP aymentPaymentInterestPrincipalBalanceNum ber$10,0001$ $ $ , , , , , , , , , , :$ $10, $ $ $ , , , ( )7, , , , ( )5, , , , ( )2, , ( ) ( )( )Totalinterest:$ (c)R=A (r+ 2)2 1 +r2 1=6 1 r(r+ 4);i'2r(4 +r)96 + 44r+ 5r2 Section22.
6. (a) Payment Payment Interest Balance Balance Number Reduction $3601 7 $621 $36 $621 2980 8 621 30 621 2359 9 621 24 621 1738 10 621 17 621 1117 11 621 11 621 496
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