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Question
1- Write a note on Financial management with references to APA.
Answer
Problem 1
Samantha opened a savings account this morning and made one deposit. At a 4% annual interest (EAR), her account balance will be $5,600 in exactly 5 years. Assume that she will not make any withdrawals or deposits, and ignore service charges and taxes. Please answer “True” or “False” to the following statements and briefly explain why.
a. Samantha deposited less than $5,600 this morning.
Answer: False because the calculation of the sum would give a negative
b. The present value of Samantha's account is $5,600.
Answer: False, because as per calculation the present value should be $4,602.79
c. Samantha’s account balance will be about $5,177.5 after two years.
Answer: False, as per calculation $ 4,978.38
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Problem 2
Today is Jan 1, 2019. You are scheduled to receive annual payments of $6,000 for each of the next 6 Years. The effective annual discount rate is 12 percent; all cash flows will be made at the end of each year, starting on Dec 31, 2019.
i. What is the present value of these cash flows?
Answer: The present value of these cash flows is $27,382.54.
ii. What is the PV of the cash flows if you are to receive these payments at the beginning of each year rather than at the end of each year?
Answer: The PV of the cash flows if I receive these payments at the beginning of each year rather than at the end of each year is $21,628.66.
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Place Your OrderProblem 3
Go to www.zillow.com and find any property listing in the US. Find the listing price and estimated monthly mortgage payment provided by the website (Zillow assumes a 20% down payment and a 30-year fixed loan). Use the information to complete the following table, and then answer the questions below.
• Property Listing Price:
• Loan Amount (after 20% down payment):
• Interest Rate (APR, monthly compounded):
• Monthly Mortgage Payment:
c. Other than the mortgage payments, can you think of other expenses or payments related to buying a property? What do you think is the minimum income for a home-buyer to safely afford this property? Please briefly explain your answer; for simplicity, you can ignore income taxes.
Answer:
• The registration cost of the property is one of the other expenses that is related to buying a property.
• $1,000 should be the minimum income of the home buyer to safely afford this property.
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