# managerial finance questions 4

1. You want to make an investment that will yield a lump sum of $ 74,555 in 3 years. You will invest at a nominal rate of 14 %. How much do you need to invest today to reach the above future value? Enter your answer to the nearest $.01 and as a positive number.

2. Your credit card, upon which you make monthly payments, has a quoted annual interest rate of 13.0 . What is the periodic interest rate? Calculate your answer to the nearest .01%. Do not use the % sign in your answer. Thus .83% would be .83 rather than .83% or .0083.

3.You are planning on taking a loan for $ 27 ,000. You will repay the loan in annual payments over the next 15 years and the loan has a stated interest rate of 6 %. For the very last payment on your loan, how much of this is repayment of principal? For example, if the loan payment is $400 of which $30 is interest and $370 is principal, your answer is $370. Enter your answer to the nearest $.01. Enter your answer as a positive number.