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FN 215? Financial Management Problem Set # 6 (Due: Monday, October 27, 2014) Rules for all problem sets: Do your own work. Do not copy material from others. Please remember to print your name on your submitted paper. Problem sets must be submitted in hard copy form. Do not submit electronically. Please answer all 3 questions. Solve by Excel only. Submit hard copy print-outs with answers and formulas. Question 1 Suppose you borrow $500,000 from a bank to purchase a house. The annual interest rate is 3.75%. Loan term is for 30 years. Monthly payments are required. Document Preview: FN 215? Financial Management Problem Set # 6 (Due: Monday, October 27, 2014) Rules for all problem sets: Do your own work. Do not copy material from others. Please remember to print your name on your submitted paper. Problem sets must be submitted in hard copy form. Do not submit electronically. Please answer all 3 questions. Solve by Excel only. Submit hard copy print-outs with answers and formulas. Question 1 Suppose you borrow $500,000 from a bank to purchase a house. The annual interest rate is 3.75%. Loan term is for 30 years. Monthly payments are required. Using Excel only, create an amortization schedule using the following format. Round all amounts to the nearest penny. Month Interest Principal Total Monthly Payment 1 2 3 4 5 6 Only do the first 6 months!!! Be sure to attach Excel print-outs with answers and formulas. Question 2 Based on Question 1 data, determine the totals after all 360 months have been paid. Show all calculations. Total payments Total interest Total principal Do NOT create a 360 month amortization schedule! Continued????.. Question 3 Given the following uneven cash flow stream. Cash flows received lump-sum at year end. Year Cash Flow 1 $100,000 2 $110,000 3 $125,000 4 $140,000 5 $150,000 6 $200,000 The discount rate is 5.625%. Determine the?present value.? The interest rate is 6.25%. Determine the?future value.? Again, only use Excel. Attach hard copies of spreadsheets with answers and formulas. t Total principal Do NOT create a 360 month amortization schedule! Continued????.. Question 3 Given the following uneven cash flow stream. Cash flows received lump-sum at year end. Year Cash Flow 1 $100,000 2 $110,000 3 $125,000 4 $140,000 5 $150,000 6 $200,000 The discount rate is 5.625%. Determine the?present value.? The interest rate is 6.25%. Determine the?future... Attachments: fn215-fa14-pr....doc
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