Exercise 2.

2
Compound Amount with a Fractional Time Period

j Answer the following problems. Show your solutions. • 1-5. Compute

for the missing data.
Principal Time Nominal Rate Amount

1. F75z000 2 years and 5 months 10%, quarterly Pxxxxx

2.严 60,000 1 year and 2 months 16%, Fxxxxx
semi-annually
3. "65,000 8 years and 7 months Fxxxxx
11%,
semi-annually
4.严 15,000 2 years and 8 months 14%, annually Fxxxxx
5.产 128,000 5 years and 10 months 24%, quarterly Fxxxxx

:6. On January 5, Crisel borrowed F28,000 from Philip at 8%

compounded quarterly for 6 years and 4 months. How much ! would she
pay then?

7. Accumulate 戸 145,000 at 16.5% converted annually for 7 years

and 11 months.