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An Introduction to the Mathematics of Finance by A. H. Pollard (Auth.) PDF

By A. H. Pollard (Auth.)

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The 34 SINKING FUNDS Problem 9: Which is the more economical of the following machines? a. a. a. a. 05 + . + 350 + 6800) at 5 % = $5,346 Therefore Β is the more economical. B. O p e r a t i n g expenses would normally be spread throughout the year and not payable in a l u m p sum at the end of the year. a. c o m p o u n d interest. a. T h e company therefore decides to increase its future deposits to $1200. W h a t a m o u n t is in the fund after 15 payments altogether have been made? a. W h a t a n n u a l deposit is required to cause the fund to a m o u n t to $10,000 in 10 years' time?

I) in one month's time (ii) immediately. a. convertible monthly. H e is to repay the loan over 20 years by monthly instalments. W h a t is the a m o u n t of the instalment? e. immediately after the 120th payment) ? H o w m u c h principal is repaid in the 121st instalment? e. where the interest charge is based on the original a m o u n t of the loan and does not reduce as principal repayments are made. T h e system works as follows:— An article is bought for $78. Cash is not available and so a "sale on terms" is permitted.

00 is to be repaid by ten equal annual instalments of principal and interest which is at the rate of 5 % per a n n u m . (i) W h a t is the a n n u a l instalment? (ii) Draw u p a schedule showing the a m o u n t of principal and the a m o u n t of interest contained in each instalment, and the principal still outstanding after each payment. (iii) As a check, calculate independently the a m o u n t outstanding after the 4th and 7th repayment. 00 each, including principal and interest. a. 00 payments will carry on for a n u m b e r of years and will be followed by a final smaller payment at the end of the last year.

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