Question

# 7. Mas Karyo borrows \$28,000 with compound interest of 12% per year. Installments are made by...

7. Mas Karyo borrows \$28,000 with compound interest of 12% per year. Installments are made by amount every year for 4 years, at the end of each year. How big is it? installments every year? How much interest is paid in year 2?

8. Perhatikan tabel cashflow dibawah ini. Hitunglah nilai C yang menyebabkan nilai tabungan ekivalen dengan nilai penarikan uang, jika bunga majemuk yang diberikan adalah sebesar 6% per tahun.

Year       Withdrawal Amount
0           -\$1.500
1           -\$1.200
2           -\$900
3           -\$600
4          -\$300
5           0
6           C
7         2C
8          3C
9          4C
10        5C

9. Five deposits, \$15,000, \$14,000, \$13,000, \$12,000, and \$12,000, respectively. \$11,000 is made on an account that provides compound interest of 7% per Years. Determine the amount of funds in the account after the 5th deposit period

10. Paimin Bin Paijo a 30-year-old Bachelor of Mechanical Engineering, next year his salary will be up to \$80,000. Paimin hopes his salary will always rise every year at a rate of a steady increase of 6% per year until he retires at age 60. If Paimin saves money 10% of his salary each year and invests his savings at an interest rate of 8%, How much money will Paimin have when he retires at age 60?

There are 4 DIFFERENT QUESTIONS POSTED , ONLY FIRST IS ANSWERED HEREUNDER

Ans-1

EMI amount can be calculated using the below formula -

P * r * ((1+r)^n))/((1+r)^n)-1)

where,

P - Amount borrowed - 28000

r - rate of interest - 12%

n - number of EMI periods - 4 (since annual EMIs)

Putting the values in the formula we get

EMI =  P * r * ((1+r)^n)) / ((1+r)^n)-1) = 28000 * 12% * ((1+12%)^4)) / ((1+12%)^4)-1) = 9219

The Table hereuner shows the Interest that will get paid over 4 years , Total payment that will be made :

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