Part A    Calculate the present value PV of an investment that will be worth $1,000 at the stated interest rate after the stated amount of time

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Part A

   Calculate the present value PV of an investment that will be worth $1,000 at the stated interest rate after the stated amount of time. HINT (Round your answer to the nearest cent.)

15 years, at 5.3% per year, compounded quarterly

 

PV = $

 

Part B

 

   Compute the specified quantity.

You are expecting a tax refund of $1,000 in 10 weeks. A tax preparer offers you an "interest-free" loan of $1,000 for a fee of $50 to be repaid by your refund check when it arrives in 10 weeks. Thinking of the fee as interest, what weekly simple interest rate would you be paying on this loan? What is the corresponding annual rate?

 

 

weekly simple interest rate ?%

 

annual simple interest rate ? %