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# Ch.9,12,13,14

### Review

Question | Answer |
---|---|

6% compounded semiannually | 3% |

9% compounded quarterly | 2.25% |

10.5% compounded monthly | 0.875% |

Laurie Ingalls loans a friend $400 at 5% simple interest for 3 years. What is the maturity value? | $448 |

$1,200 represents which variable (PV, PMT, or FV)? | None |

How much will Annie have when she turns 50, after her final deposit? | $24,786.67 |

What will the annual tuition be at the college 18 years from now? | $3,473.43 |

What is the total contributed by the employee and employer each year? | $8,415 |

If you withdraw $2,800 at the end of each month, what will the balance be in 30 years? | $33,984.51 |

Interest is more during the first part of an installment loan. (T or F) | True |

You get the loan. Your monthly payment is $491.31. What is the finance charge? | $7,274.32 |

What rate is lower 1.25% per month or 11.9% per year? | The 11.9% per year is lower |

What is the total cost of the car, including finance charges? | $8,035 |

What is the FV amount? | $8,050 |

How much will Gregg have when he retires 22 years later? | $508,640.18 |

What is the present value of the movie rights? | $62,775.423.52 |

What will your balance be at the end of 7 years? | $5,439.45 |

What amount is required if he can earn 7% compounded monthly? | $1,264.85 |

What age will kyle be when he accumulates $1,000,000? | 83 years old |

If you withdraw $4,550 at the end of each month, how long will $650,000 last? | 12.51 years |

Created by:
ch0506712