Complete the following from the textbook:
· Chapter 9: E1, P2, P3, P4, P5, P7, P16, P17, P19
· SEE DETAILED BELOW
E1. Go to the Federal Reserve website, http://www.federalreserve.gov. Go to “Economic Research and Data,” and access “Consumer Credit.” Find interest rates charged by commercial banks on new automobile loans, personal loans, and credit card plans.
E1. PART II. Find the future value of $10,000 invested now after five years if the annual interest rate is 8 percent.
P3. Determine the future values if $5,000 is invested in each of the following situations:
P4. You are planning to invest $2,500 today for three years at a nominal interest rate of 9 percent with annual compounding.
P5. Find the present value of $7,000 to be received one year from now, assuming a 3 percent annual discount interest rate. Also calculate the present value if the $7,000 is received after two years.
P7. Determine the present value if $15,000 is to be received at the end of eight years and the discount rate is 9 percent. How would your answer change if you had to wait six years to receive the $15,000?
P16. Use a financial calculator or computer software program to answer the following questions:
P17. Use a financial calculator or computer software program to answer the following questions:
P19. Use a financial calculator or computer software program to answer the following questions.
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