## Question

###### Can someone please help me QUESTION 2 Find the annual percentage yield (APY) of an account...

can someone please help me

QUESTION 2 Find the annual percentage yield (APY) of an account with an APR of 5.6% compounded monthly. Round to two decimal places. QUESTION 3 Find the savings plan balance after 5 years with an APR of 8.8% and monthly payments of $572. QUESTION 4 You intend to create a college fund for your baby. If you can get an APR of 7% and want the fund to have a value of $158,962 after 16 years, how much should you deposit monthly? QUESTION 5 Compute the total return if you paid $25 for 20 shares of a certain and sold it 10 years later for $57 per share. Round to one decimal place. QUESTION 6 Compute annual gain if an investment earns 123% over a 10 year period. Round your answer to one decimal place.

## Answers

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Solution 2. APR 5.60% 0.47% Monthly rate (5.6%/12) Annual percentage Yield = (1+rate)^12 - 1 (1+0.0047)^12 - 1 0.057881024 5.79% Solution 3. Monthly Payments APR Monthly rate (8.80% / 12) Time 572.00 8.80% 0.73% 5 years Balance after 5 years = Monthly payments x Future Value annuity factor(0.73%, 60 months) $572 x 74.95089 $ 42,871.91 $ Solution 4. Future Value Time (years) Time (months) APR Monthly rate 1,58,962.00 16 years 192 months 7% 0.58% Monthly Payments = =PMT(rate, time, , Future Value) =PMT(0.58%, 192, , $158,962) 451.25Solution 5. Cost of shares (20 x $25) Sale value (20 x $57) 500.00 1,140.00 10 years Time Future Value Rate Present Value x (1+rate)-time (Future Value / Present value)^1/time - 1 ($1140 / $500)^1/10 - 1 8.59% Solution 6. Let, Cost of Investment Future Value (123%) 100.00 123.00 10 years Time Future Value Rate Present Value x (1+rate) time (Future Value / Present value)^1/time - 1 ($123 / $100)^1/10 - 1 2.09%

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