Scribe Post May 02

Today we go over the quiz that we did yesterday. Here are the answer for the quiz:

a)N=120                                b)N=60
I%=4                                          I%=5
PV= -370000                           PV=20000
PMT=0                                      PMT= -377.42
FV=551608.09                         FV=0
P/Y=12                                      P/Y=12
C/Y=12                                      C/Y=12

c) N=60                                                             d)N=60
I=3.8%                                                                  I%=3.8
PV=0                                                                     PV= -238960.6
PMT= -(4000-377.42)= -3622.58                   PMT= -4000
FV=244457.4                                                       FV=559378.08
P/Y=12                                                                 P/Y=12
C/Y=12                                                                 C/Y=12

Next scribe is CJ...