University

Business School

Exercise Guide No. 01

Subject : Financial Mathematics (1746)

sections : All
theme III : COMPOUND INTEREST

1. A company obtains a loan of S /. 30,000 for a period of 7 months at a rate of X% annual compounded monthly for the first 3 months
and 24% annual compounded monthly for the next 4 months. If the loan was paid off with a single payment of S /. 36527.67 at t he
end of the total time period, calculate:

a. The value of X. Rpta. 48%

b. The average monthly rate was paid. Rpta. 2.85%

2. A trader with a summary of your debts, you should find one of its suppliers S /. 5.523 maturing 1.5 quarters, S /. 6.700 maturing
2.4 quarters and S /. 8,493 with a maturity of 3.5 quarters; but for convenience, rethinks payments so that increase in S / .300
compared to the immediately preceding and payment maturities 1.5; 2.5 and 3.5 quarters respectively. If the cost of money is 15%
annual nominal rate compounded monthly, calculate the value of each new payment.
Rpta. First payment S /. 6584.28; second payment S /. 6884.28; third payment S /. 7,184.28

3. AGROPISCO SRL. It is committed to making the following payments: S /. 90.000 to 6 months; S / .X to 15 months; S /. 140.000
to 27 months; and S /. 180.000 to 36 months for having received a loan from the Agricultural Development Bank by S /. 373.056
to rate
interest of 21% per annum compounded monthly. Calculate:
1.75% TEM; 36
a. The effective monthly rate and total time. Rpta. months .
b. The amount of the second payment. Rpta. S /. 140,001.46
How much would each payment 4 payments if they were of equal
c. value? Rpta. S /. 131,658.44

4. The company CONFECCEXPORT SA has the following agreement with one of its suppliers: The raw material supplier delivers
2 times a year and the company makes 3 payments per year to cancel what was received:
The first delivery of raw materials to start the year was valued at S /. 150,000 and the second installment was to start half of the
year amounting to S /. 180.000.
The first payment of the company was S /. 120,000 at the end of the third month; the second payment was S /. 144,000 at the end
of the ninth month; and the third payment was the end of the year for calculating value. The interest rate for the entire operation
was 18% TNA quarterly capitalization. Calculate:

a. The effective rate quarterly. Rpta. 4.5% TET.

The value of the third payment made by the company at the end
b. of the year. Rpta. S /. 88022.36
c. How much did total for interest? Rpta. S /. 22022.36
5. a vehicle whose spot price is S / buying. 50,000 with an initial charge of S /. 10,000 and the balance is paid four bi-monthly
payments: S /. 9,000 each of the first three payments and S / .X the value of the last payment. Taking into account the 18% annual
nominal rate with monthly capitalization of interest; calculate:
a. The value of S /. X Rpta. S /. 16394.42
b. The total interest. Rpta. S /. 3,394.42
c. The total disbursed for purchasing the vehicle. Rpta. S /. 53394.42

6. A company acquires merchandise in the year with two purchases: the beginning of the year amounting to S /. 100,000 and at the
end of the fifth month
worth S /. 150,000. You pay your provider for this concept, four payments: S /. 50,000 at the end of the third month; S /. X at the
end of the sixth month and at the end of the tenth month; and S /. 70,000 at the end of the twelfth month. It is considering an annual
effective rate of 14%; calculate:
a. The value of S /. X Rpta. S /. 72137.24
b. Total interest Rpta. S /. 14274.49

7. a debt of S / contracts. 85,000 to pay parts of machinery and inputs to be used in small-scale mining operation. This debt will be
canceled with 2 equal quarterly payments or a single payment within 5 months. Taking into account a rate of 8% TEA ; calculate:
a. The value of payments. Rpta. S /. 43742.41
b. The value of single payment canceled 5 months after the debt contracted. Rpta. S /. 87769.88

8. a house whose spot price is S / sold. 80.000 with an initial payment of S /. 15,000 and the balance is paid with 3 semi-annual
payments of S /. 25,000 the first two and S / .X last. Taking into account the 12% TEA; calculate:

a. The value of S /. X Rpta. S /. 22586.77

b. The total interest. Rpta. S /. 7,586.77
c. The total received by the sale of housing. Rpta. S /. 87586.77

9. An industrial company acquires supplies in the year with three purchases: at the beginning of the year
by S /. 80,000; at the beginning of the fourth month by S /. 70,000 and at the beginning of the eighth
month S /. 100,000. You pay your provider with three payments: S /. X at the end of the third month,
S /. 80,000 at the end of the seventh month and S /.
75,000 at the end of the year; with a rate of 13% TEA, calculate:
S /.
a. The value of S /. X Rpta. 103,252.74
b. The total interest. Rpta. S /. 8,252.74

10. It sold a piece of land whose spot price is S /. 160.000 with an initial payment of S /. 30,000 and the balance is paid with 3
semi-annual payments of S /. 50,000 the first two and S / .X last. Taking into account the 12% TEA; calculate:

a. The value of S / .X Rpta. S /. 45173.53

b. The total interest. Rpta. S /. 15173.53
S /.
c. The total received by the sale of the land. Rpta. 175,173.53
11. a debt of S / contracts. 3,500 to buy an appliance computer in a commercial house so he canceled
three equal monthly installments or a single payment within 2 months after the debt contracted. Taking
into account the 16% TEA; calculate:

a. The value of monthly installments. Rpta. S /. 1,195.83

b. The value of single payment canceled 2 months after the debt contracted. Rpta. S /. 3,587.66

12. Constructora Del Sol SAC. It is committed to making the following payments S /. 180.000 to 6 months; S / .X to 15 months; S /.
280.000 to 27 months and S /. 360.000 to 36 months for having received a loan of S /. 746.112 from a local bank at the interest
rate of 21% annually with monthly caps; calculate:
The effective monthly rate and the total 1.75% TEM; 36
a. term Rpta. months .
b. The amount of the second payment. Rpta. S /. 280,002.93
Rpta. S /.
c. How much would each payment if all 4 were equal? 263,316.88

13. LOOM SA company has the following agreement with one of its suppliers: The raw material supplier will deliver 2 times a year
and the company will make 3 payments per year to cancel what was received.
The first delivery of raw materials to start the year was valued at S /. 450,000 and the second half at the beginning of the year
amounting to S /. 540,000.
The first payment of the company was S /. 360,000 at the end of the third month, the second payment will be S /. 432,000 at the
end of the ninth month and the third payment will be at the end of the year for calculating value. The interest rate on the entire
operation is 18% per annum with quarterly capitalization, calculate:

to. The quarterly effective tax rate Rpta. 4.5% TET

The value of the third installment of the company at the S /.
b. end of the year Rpta. 264,067.07
c. What do you pay interest? Rpta. S /. 66067.07

14. a compressor whose spot price is S / buying. 100,000 initial fee S /. 20,000 and the balance is paid four bi-monthly payments: S /.
18,000 the first three bimesters and S / .X the last two months at the rate of 18% annual nominal monthly capitalization of interest.
Calculate:

to. The value of S / .X Rpta. S /. 32788.83

b. The total interest. Rpta. S /. 6,788.83
The total disbursements for the purchase of the S /.
c. compressor. Rpta. 106,788.83

15. A company acquires merchandise in the year with two purchases: the beginning of the year amounting to S /. 200,000 and at the
end of the fifth month
S /. 300,000. You pay your provider with four payments: S /. 100,000 at the end of the third month, S / .X the end of the sixth
month and the end of the tenth month and S /. 140,000 at the end of the twelfth month. It is considering an annual effective rate
of 14%; Calculate:

to. The value of S / .X Rpta.S /. 144,274.49

b. The total interest. Rpta. S /. 28548.98

16. A company acquires merchandise in the year with two purchases: the beginning of the year amounting to S /. 10,000 and at the
end of the fifth month
 S /. 15,000. You pay your provider with four payments: S /. 5,000 at the end of the third month, S / .X the end of the sixth month
and the end of the tenth month and S /. 7,000 at the end of the twelfth month. It is considering an annual effective rate of 14%;
calculate:
a. The value ofS /. X Rpta. S /. 7,213.72
b. T he total interest. Rpta. S /. 1,427.45

17. a debt of S / contracts. 170,000 to cancel the purchase of a shop for the sale of spare parts for the automotive industry. This debt
will be canceled with 2 equal quarterly payments or a single payment within 5 months. Taking into account a rate of 8% TEA;
calculate:
a. The value of payments Rpta. S /. 87484.83
b. The value of single payment canceled 5 months after the debt contracted. Rpta. S /. 175,539.75

18. An industrial company acquires supplies in the year with three purchases: at the beginning of the year
by S /. 40,000 at the beginning of the fourth month by S /. 35,000 and at the beginning of the eighth
month S /. 50,000. You pay your provider with three payments: S / .X at the end of the third month,
S /. 40,000 at the end of the seventh month and S /. 37,500 at the end of the year with a rate of 13%
TEA; calculate:
a. The value of S /. X Rpta. S /. 51626.37
b. The total interest. Rpta. S /. 4,126.37

19. a debt of S / contracts. 7,000 in a bank to finance the payment of a specialization course, that you are
amortized until canceled with three equal monthly installments or a single payment within 2 months
after the debt contracted. Taking into account the 16% TEA; calculate:
a. The value of payments. Rpta. S /. 2,391.65
b. The value of single payment canceled 2 months after the debt contracted. Rpta. S /. 7,175.32

20. July 11 is placed in the Continental Bank amounting to S /. 5,000 in an account paying 3% TEM ; to thereafter dep osited S /.
1000 and S / 500 2 October and November 15 respectively. On November 18 withdraw S / 800; and on November 24 the same
year the account is canceled. Calculate the amount is withdrawn from the account at the time of its cancellation, if the 3% TEM
was in force until the end of November 1, after which he changed to 3.2% TEM . Rpta. S /. 6,480.34
21. A person opens a savings account on April 14 with S /. 10,000; on M ay 02 withdrew S / .400; on M ay 15 withdraws S / 200;
deposited on June 03, S / 100; and on June 24 the same year canceled the account. Considering TED 0.05%, calculated:

a. The amount on the date of cancellation of the savings account. Rpta: S /. 9,847.56
b. Total interest generated over the entire term. Rpta: S / .347.56

22. FIAT Producciones has some overdue liabilities and overcome the various financial institutions with the medium. The
following table shows the detail of these debts:

Term Rode TEM Bank

Expired 42 days ago 1,000 2.0% North
Expired 20 days ago 1,500 1.8% North
Expiring within 30 days 2,000 1.0% South
Expiring within 75 days 2750 1.5% South

You want to borrow the Economic Bank so that the overdue and win obligations are paid. The loan will be paid today. How much
should be requested as a loan? Rpta: S /. 7,175.78
University
Business School

Exercise Guide No. 02

Subject : Financial Mathematics (1746)

sections : All
topic V : INTEREST RATE

1. What capitalizable annual nominal rate semiannually capital doubles in 3 years. Rpta. 24.4924%

2. What capitalizable annual nominal rate semiannually capital triples in 3 years. Rpta. 40.1874%

3. What compounded annual rate monthly nominal capital in four years is tripled? Rpta. 27.7820%

4. What capitalizable annual nominal capital monthly rate quadruples in 8 years? Rpta. 17.4544%

5. What is more profitable for my savings:

I.The 86% compounded annually or
II. 73% with semiannually or
III. 64% compounded monthly

a. Express the effective annual rate response. Rpta. 86%, 86.32225%, 86.5477%
b. Express your answer in monthly effective rate. Rpta. 5.3075%, 5.3227%, 5.3333%

6. a deposit at a nominal rate of 10% compounded monthly bimonthly made. After 4 months the nominal rate increased to 12%.
Calculate the average bi-monthly nominal rate that the bank paid in the year. Rpta. 11.33% TNB

7. A company has estimated that believe their clients should be charged an effective rate of 120% per annum; However, for the purpose
of appearing at a lower cost you decide to inform customers the equivalent annual nominal rate, determine the annual nominal rate
and the period most convenient capitalization (between the annual, half-yearly, quarterly, monthly or daily) for achieving the goal
it has set the company. Rpta. 78.9321% TNA. with m = 360

8. What compounded annual rate monthly nominal capital gains 150% interest in 5 years. Rpta. 18.4665%

9. What capitalizable annual nominal daily rate capital gains 250% interest in 6 years. Rpta. 20.8854%

10. What capitalizable annual nominal rate quarterly capital gains 350% interest in 10 years. Rpta. 15.3271%

11. What is more profitable for my savings:

I. 85% per annum with semiannual or
II.74% nominal quarterly capitalization or
III.The 63% nominal annual compounded monthly or
 IV. 50% annually with daily compounding nominal.

a. Express the effective annual rate response. Rpta. 103.0625%; 97.1848%; 84.7844%; 64.8149%.
b. Express your answer in monthly effective rate. Rpta. 6.082%; 5.8212%; 5.25%; 4.2517%.

12. a deposit at a rate of 12% per annum with bi-monthly cap was made. After 6 months the nominal rate increased to 14%. Calculate
the average annual nominal rate with quarterly capitalization paid the bank. Rpta. 13.0693%.

13. A company has decided to give credit to their customers must charge an effective rate of 110% per annum; however, appear less
cost purposes decides to inform customers a nominal daily rate cap. What is the rate? Rpta. 74.27024%.

14. Calculate the equivalent rate for:

a. 7% annual cash monthly cash. Rpta. 0.5654% TEM .
b. 4% semi-annual cash effective. Rpta. 8.16% TEA.
c. Bimonthly 2.3% semi-annual cash effective. Rpta. 7.06% TES.
d. 14% annual cash quarterly cash. Rpta. 3.33% TET.
and. 6% annual cash quarterly cash. Rpta. 26.2477% TEA.

15. Determine the annual effective tax rate for the following rates:
a. 3% cash monthly. Rpta. 42.5761% TEA.
b. 0.02% daily cash. Rpta. 7.4648% TEA.
c. 1.2% effective bi-monthly. Rpta. 7.4195% TEA.
d. 4.5% quarterly cash. Rpta. 19.2519% TEA.
e. Cash 4.8% semiannually. Rpta. 9.8304% TEA.

16. Calculate the real rate of a loan that was valid for 3 months. TEA loan was 20% and the inflation rate which accumulated during
that period was 2%. Rpta: 2.6113%

17. In a given project, the company invested TECNOM IN SA S /. 20,000 in order to get a real annual rate of 30% effective. If the
inflation rate is projected at 12% annually. How effective annual rate that the proposed objective will be met? Rpta: 45.6%

18. Selling Leads Company SA is granting loans to its customers and aims to gain a real TEM 3% of the funding provided as the market
permits. What annual nominal rate compounded monthly must charge if projected inflation of 4% over the next quarter? Rpta:
52.27%
University
Business School

Exercise Guide No. 03

Subject : Financial Mathematics (1746)

sections : All
topic VI : RENTS UNIFORMS OVERDUE

1. You want to build up a fund of S / .4'000,000 for retirement. If you have started work completed 24 years and expects
to retire at age 70 contributing monthly X amount to the fund at a rate of interest of 4% per annum compounded
monthly, how much will have to contribute monthly on your .
Rpta. S /. 2,526.54

2. A savings plan consists of 42 monthly deposits:

- S / 750 per month for 18 months.

- S /. 1,500 per month for the next 24 months

If the interest rate is 13.5% effective annual:

a. What is the cumulative amount at the end of the 42 months? Rpta. S /. 59805.11
b. What is the amount after 60 months into this savings plan? Rpta. S /. 72315.61

3. Buying a computer whose spot price is $. 1.100 dollars is performed by making the following payments:
30% down payment plus 18 equal monthly payments. If the rate is 18% per annum nominal capitalization
monthly, calculate the value of each monthly payment. Rpta. $ .49.13

4. A marketing firm dedicated to sales of home appliances offers customers a credit system with the following
characteristics:
- equal monthly payments: 12
- Payment of the first 3 months after purchasing the well.
installment:

If a person wishes to purchase under this embodiment, a color TV whose spot price is $. 1,920; determine the
monthly fee that will be paid if the trading house takes 40% TEA. Rpta. $ .202.11

5. a passbook with S / open today. 5,000, then depositing S / .200 end of each month for 2 years. The object is removed
from the third year S / .X end of each month for 4 semesters, after which the balance is equal to
zero. If the interest rate is 0.5% TEM; which is the value of x? Rpta. S / .475.21

6. a mortgage loan for the purchase of land for $ is given. 80,000. The loan is given for 80% of the value of the land,
the deadline to cancel the loan is 10 years with monthly installments to 8.4% TEA. Calculate:

a. The effective monthly rate. Rpta. 0.67441% TEM

 b. The value of the loan. Rpta. $. 64,000 monthly payment fee. Rpta. $ .779.64
d. The total disbursed by the loan granted. Rpta. $. 93557.26
and.The total interest. Rpta. $. 29557.26

7. You pacta with a financial institution, cancel a loan of $. X 20 years paying $. 1,000 each end of the quarter to 8.2%
TEA. Calculate:

a. $ Value X . Rpta. $. 39865.24

b. The interest paid by the loan Rpta. $. 40134.76