D Ltd. made a 7-year loan of $4 million from a financial institute. A repayment plan is made according to the company's financial situation that an annual repayment of $1 million will be made at the end of each year comencing from the 4th year to 7th year. Assume the annual interest rate is 10%.
(a) Calculate the future value of the total repayment made.
(b) Calculate the present value of the total repayment made.
FINANCIAL MANAGEMENT 難題非常急
2008-04-28 9:32 pm
回答 (1)
2008-04-28 11:12 pm
✔ 最佳答案
(a) Future value (at the end of 7th year) in million= 1* (1+10%)^3+1*(1+10%)^2 + 1*(1+10%) + 1=1.331+1.21+1.1+1=$4.641 million(b) Present value in million = 1 /(1+10%)^7 + 1/(1+10%)^6 +1/(1+10%)^5 + 1/(1+10%)^4 = 1/1.9487 + 1/1.7716 + 1/1.6105 + 1/1.4641 = 0.5132+0.5645+0.6209+0.6830=$2.3816 million
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