help with financial management

Assignment 1

1. Assume that you just received an ordinary annuity with 6 annual payments of $4,000 each. You plan to invest the payments at a 5% interest rate. What will the value of the payments be at the end of the 6th year?
2. Suppose it is January 1st and you deposited $3,000 in a savings account that pays 9 percent with daily compounding and a 360-day year. How much could you withdraw after nine months, assuming this is nine-twelfths of a year?

Assignment 2

Assume a bank charges a 15.5% APR (annual percentage rate) on credit card holder compounds quarterly. What EAR (effective annual rate) is the bank is charging? What if they change compounding to bi-monthly? Compare the result from the bank perspective and the credit card holder perspective (your calculation should be set to 4 decimal places).

Assignment 3

1. Determine the annual payment, and
2. Prepare an amortization schedule based on the following information. Utilize the example provided in the text as well to see the end result:

• Loan amount = $25,000
• Annual Interest rate = 6% compounded annually.
• The loan matures or the loan term = 5 years
• You must include all the six categories (year, beginning balance, payment, interest, principal, and balance)