# Answered Essay: 3.6 Suppose that you are obtaining a personal loan from your uncle in the amount of \$30,000 (now) to be repaid in three year

Please solve and draw cash flow diagram

3.6 Suppose that you are obtaining a personal loan from your uncle in the amount of \$30,000 (now) to be repaid in three years to cover some of your col- lege expenses. If your uncle usually earns 9% interest (annually) on his money. which is invested in various sources, what minimum lump-sum payment three years from now would make your uncle happy? 3.7) If you deposited \$100 now (n = 0) and \$200 two years from now (n = 2) in a savings account that pays 10% annual interest, how much would you have at the end of year 10?

FV = present value*(1+r)^n

Fv =30000*(1.09)^3

FV = 38850.87

Minimum lump sum payment after three years = 38850.87

 Year cash deposit formula = amount deposit*(1+r)^n future value of investment 0 100 100*1.1^10 259.3742 2 200 200*1.1^8 428.7178 value of investment after 10 Year 688.092
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