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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
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