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lys-0071 [83]
3 years ago
5

You are in talks to settle a potential lawsuit. The defendant has offered to make annual payments of $28,000, $32,000, $66,000,

and $99,000 to you each year over the next four years, respectively. All payments will be made at the end of the year. If the appropriate interest rate is 3.6 percent, what is the value of the settlement offer today
Business
1 answer:
larisa86 [58]3 years ago
6 0

Answer:

$202,137.90  

Explanation:

Year Annual payment Discount factor  Present value  

1 $28,000          0.965250965 $27,027.03  

2 $32,000          0.931709426         $29,814.70  

3 $66,000          0.899333423         $59,356.01  

4 $99,000          0.868082454 $85,940.16

Total present value                                         $202,137.90  

The discount factor should be computed by  

= 1 ÷ (1 + interest rate)^years  

where,  

rate is 3.6%  

Year = 0,1,2,3,4 and so on  

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Mashcka [7]

Answer:

It will take him 45 years

Explanation:

In this question, we are asked to calculate the number of years it would take to accumulate $1,000,000 if there is a plan to save $500 per month at an interest rate of 5%.

To solve this, we use the following mathematical formula:

Future value of annuity = Annuity payment * {(1+r)^n - 1}/r

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From the question, we can identify the following;

Since he earns 5% interest on savings, the actual monthly interest rate will be 5%/12 = 0.4167% = 0.004167

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8.334 = (1.004167)^n - 1

1+8.334 = (1.004167)^n

9.334 = (1.004167)^n

To get n, we simply take the log on both sides of the equation

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