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Wikimeister: /* 5. Forms of payment */

2012-01-02T15:02:32Z

5. Forms of payment

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	- [[Kapitalwert\|NPV]] <br/>		- [[Kapitalwert\|NPV]] <br/>
	- [[Financial Resources Formulary]] <br/>		- [[Financial Resources Formulary]] <br/>
	- [[Financial Exercises ~~2: PV and Annuity~~]] <br/>		- [[Financial Exercises]] <br/>

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''by Clemens Werkmeister''
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=== 1. Compounding and Discounting ===

a. If the present value of 400 € to be paid at the end of one year is 350 €, what are the one-year discount factor and the corresponding discount rate? 
b. If the annual interest rate is 10 %, what are the discount factors for two years? 
c. You invest 1.000 € at an annual interest rate of 6 %. What is the final value of the investment after 3 years, after 5 years, after 10 years? 
d. Your bank offers you to invest 880 € in a certificate of deposit that promises a payment of 1.000 € after two years. What is the effective annual rate (EAR) of this certificate? 
e. Your bank offers you a certificate of deposit that promises a payment of 1.000 € after two years. How much should you pay for that certificate, if the annual interest rate is supposed to be 7 % and there are no interest payments in the meantime (i.e. the certificate is a zero bond). 
f. After how many years an investment doubles its value, if interest payments are reinvested at the interest rate of 10 %. 
g. A zero-bond pays 1.000 € at the end of year 2014. Calculate the price of the bond at 30.06.2012, assuming an yield of 6 % for similar bonds? 

=== 2. Simple rate and effective annual rate ===
What is the value of an investment after one year (respectively the effective annual rate), if interest is paid 
a. annually at 12 %, 
b. quarterly at 3 %, 
c. monthly at 1 %, 
d. daily (at 360 days) at 12 / 360 %, 
e. continuously at a rate of 12 %? 

=== 3. Continuous compounding ===
What is the continuously compounded return (force of interest) corresponding to an annual rate of 6 %? 

=== 4. Value of a cash discount ===
An invoice with a regular 30-day-payment-term allows you a cash discount of 3 % for paying within ten days. Should you accept the discount? 

=== 5. Forms of payment ===
You want to buy a car with a list price of 30.000 €. The car seller offers you the following payment schedules: 
* You pay a cash down payment of 10.000 € and three rates of 7,000 € each at the end of years 1, 2, and 3. 
* You pay cash with a discount of 3 %. 
a. Which one is the better schedule if you own 40.000 €, invested at 5 %? 
b. What cash discount is necessary to make cash payment the better alternative? 

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References: 
- [[Kapitalwert|NPV]] 
- [[Financial Resources Formulary]] 
- [[Financial Exercises 2: PV and Annuity]]

Financial Exercises 1: Discounting and compounding - Versionsgeschichte

Wikimeister am 24. Januar 2013 um 17:08 Uhr

Wikimeister: /* 5. Forms of payment */

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