Foundations of
Business 7th Edition
ST
UV
SOLUTIONS
IA
MANUAL
_A
PP
William M. Pride
Robert J. Hughes
RO
Jack R. Kapoor
────────────────────────────────────────────────────
VE
Comprehensive Solutions Manual for Instructors
and Students
D?
© William M. Pride, Robert J. Hughes & Jack R. Kapoor. All rights reserved. Reproduction
or distribution without permission is prohibited.
?
© Successhands
, Solutions Manual for Foundations of Business (7th Edition)
William M. Pride, Robert J. Hughes & Jack R. Kapoor
ISBN: 9780357717943
ST
PART 1: THE ENVIRONMENT OF BUSINESS
1. Exploring the World of Business and Economics
2. Ethics and Social Responsibility in Business
UV
3. Global Business
PART 2: BUSINESS OWNERSHIP AND ENTREPRENEURSHIP
4. Choosing a Form of Business Ownership
5. Small Business, Entrepreneurship, and Franchises
IA
PART 3: MANAGEMENT AND ORGANIZATION
6. Understanding the Management Process
7. Creating a Flexible Organization
_A
8. Producing Quality Goods and Services
PART 4: HUMAN RESOURCES
9. Attracting and Retaining the Best Employees
PP
10. Motivating and Satisfying Employees
PART 5: MARKETING
11. Building Customer Relationships Through Effective Marketing
12. Creating and Pricing Products That Satisfy Customers
RO
13. Distributing and Promoting Products
PART 6: INFORMATION, ACCOUNTING, AND FINANCE
14. Exploring Social Media and e-Business
15. Using Management and Accounting Information
VE
16. Mastering Financial Management
17. Understanding Personal Finances and Investments (online-only)
18. Enhancing Union-Management Relations (online-only)
D?
?
© Successhands
, Solution Manual for
Focus on Personal Finance, 7th Edition
Chapter 1-14
Chapter 1
SMT
(Note: Some of these problems require the use of the time value of money tables in the chapter
appendix, a financial calculator, or spreadsheet software.)
1. Using the rule of 72, approximate the following amounts. (LO 1.1)
UEDV
a. If the value of land in an area is increasing 6 percent a year, how long will it take for property
values to double?
About 12 years ()
ICAO
b. If you earn 10 percent on your investments, how long will it take for your money to double?
About 7.2 years ()
_NA
c. At an annual interest rate of 5 percent, how long will it take for your savings to double?
About 14.4 years ()
PNPO
2. In 2019, selected automobiles had an average cost of $16,000. The average cost of those same
automobiles is now $20,000. What was the rate of increase for these automobiles between the two
time periods? (LO 1.1)
($20,000 - $16,000) / $16,000 = .25 (25 percent)
RISO
3. A family spends $46,000 a year for living expenses. If prices increase by 3 percent a year for the
next three years, what amount will the family need for their living expenses after three years? (LO
1.1)
SVE
46,000 1.09 = $50,140; or using Exhibit 1-A: $46,000 1.093 = $50,278
EDU
4. Ben Collins plans to buy a house for $260,000. If the real estate in his area is expected to increase
in value by 2 percent each year, what will its approximate value be seven years from now? (LO 1.1)
$260,000 1.149 = $298,740; or using Exhibit 1-A: $260,000 1.149 = $298,740
?R?
5. What would be the yearly earnings for a person with $9,000 in savings at an annual interest rate of
1.5 percent? (LO 1.3)
Copyright © 2020 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill
Education.
, $9,000 0.015 = $135
6. Using time value of money tables (Exhibit 1–3 or chapter appendix tables), calculate the following.
(LO 1.3)
SMT
a. The future value of $550 six years from now at 7 percent.
$550 1.501 = $825.55 (Exhibit 1-A)
UEDV
b. The future value of $900 saved each year for 10 years at 8 percent.
$900 14.487 = $13,038.30 (Exhibit 1-B)
c. The amount a person would have to deposit today (present value) at a 5 percent interest rate to
have $1,000 five years from now.
$1,000 0.784 = $784 (Exhibit 1-C)
ICAO
d. The amount a person would have to deposit today to be able to take out $500 a year for 10 years
from an account earning 8 percent.
$500 6.710 = $3,355 (Exhibit 1-D)
_NA
7. If you desire to have $12,000 for a down payment for a house in five years, what amount would
you need to deposit today? Assume that your money will earn 4 percent. (LO 1.3)
$12,000 0.822 = $9,864 (Exhibit 1-C)
PNPO
8. Pete Morton is planning to go to graduate school in a program of study that will take three years.
Pete wants to have $8,000 available each year for various school and living expenses. If he earns 3
RISO
percent on his money, how much must he deposit at the start of his studies to be able to withdraw
$8,000 a year for three years? (LO 1.3)
$8,000 2.829 = $22,632 (Exhibit 1-D)
SVE
9. Carla Lopez deposits $2,800 a year into her retirement account. If these funds have an average
earning of 7 percent over the 40 years until her retirement, what will be the value of her retirement
account? (LO 1.3)
EDU
$2,800 199.635 = $558,978 (Exhibit 1-B)
10. If a person spends $10 a week on coffee (assume $500 a year), what would be the future value of
?R?
that amount over 10 years if the funds were deposited in an account earning 3 percent? (LO 1.3)
$500 11.464 = $5,732 (Exhibit 1-B)
Copyright © 2020 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill
Education.
Business 7th Edition
ST
UV
SOLUTIONS
IA
MANUAL
_A
PP
William M. Pride
Robert J. Hughes
RO
Jack R. Kapoor
────────────────────────────────────────────────────
VE
Comprehensive Solutions Manual for Instructors
and Students
D?
© William M. Pride, Robert J. Hughes & Jack R. Kapoor. All rights reserved. Reproduction
or distribution without permission is prohibited.
?
© Successhands
, Solutions Manual for Foundations of Business (7th Edition)
William M. Pride, Robert J. Hughes & Jack R. Kapoor
ISBN: 9780357717943
ST
PART 1: THE ENVIRONMENT OF BUSINESS
1. Exploring the World of Business and Economics
2. Ethics and Social Responsibility in Business
UV
3. Global Business
PART 2: BUSINESS OWNERSHIP AND ENTREPRENEURSHIP
4. Choosing a Form of Business Ownership
5. Small Business, Entrepreneurship, and Franchises
IA
PART 3: MANAGEMENT AND ORGANIZATION
6. Understanding the Management Process
7. Creating a Flexible Organization
_A
8. Producing Quality Goods and Services
PART 4: HUMAN RESOURCES
9. Attracting and Retaining the Best Employees
PP
10. Motivating and Satisfying Employees
PART 5: MARKETING
11. Building Customer Relationships Through Effective Marketing
12. Creating and Pricing Products That Satisfy Customers
RO
13. Distributing and Promoting Products
PART 6: INFORMATION, ACCOUNTING, AND FINANCE
14. Exploring Social Media and e-Business
15. Using Management and Accounting Information
VE
16. Mastering Financial Management
17. Understanding Personal Finances and Investments (online-only)
18. Enhancing Union-Management Relations (online-only)
D?
?
© Successhands
, Solution Manual for
Focus on Personal Finance, 7th Edition
Chapter 1-14
Chapter 1
SMT
(Note: Some of these problems require the use of the time value of money tables in the chapter
appendix, a financial calculator, or spreadsheet software.)
1. Using the rule of 72, approximate the following amounts. (LO 1.1)
UEDV
a. If the value of land in an area is increasing 6 percent a year, how long will it take for property
values to double?
About 12 years ()
ICAO
b. If you earn 10 percent on your investments, how long will it take for your money to double?
About 7.2 years ()
_NA
c. At an annual interest rate of 5 percent, how long will it take for your savings to double?
About 14.4 years ()
PNPO
2. In 2019, selected automobiles had an average cost of $16,000. The average cost of those same
automobiles is now $20,000. What was the rate of increase for these automobiles between the two
time periods? (LO 1.1)
($20,000 - $16,000) / $16,000 = .25 (25 percent)
RISO
3. A family spends $46,000 a year for living expenses. If prices increase by 3 percent a year for the
next three years, what amount will the family need for their living expenses after three years? (LO
1.1)
SVE
46,000 1.09 = $50,140; or using Exhibit 1-A: $46,000 1.093 = $50,278
EDU
4. Ben Collins plans to buy a house for $260,000. If the real estate in his area is expected to increase
in value by 2 percent each year, what will its approximate value be seven years from now? (LO 1.1)
$260,000 1.149 = $298,740; or using Exhibit 1-A: $260,000 1.149 = $298,740
?R?
5. What would be the yearly earnings for a person with $9,000 in savings at an annual interest rate of
1.5 percent? (LO 1.3)
Copyright © 2020 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill
Education.
, $9,000 0.015 = $135
6. Using time value of money tables (Exhibit 1–3 or chapter appendix tables), calculate the following.
(LO 1.3)
SMT
a. The future value of $550 six years from now at 7 percent.
$550 1.501 = $825.55 (Exhibit 1-A)
UEDV
b. The future value of $900 saved each year for 10 years at 8 percent.
$900 14.487 = $13,038.30 (Exhibit 1-B)
c. The amount a person would have to deposit today (present value) at a 5 percent interest rate to
have $1,000 five years from now.
$1,000 0.784 = $784 (Exhibit 1-C)
ICAO
d. The amount a person would have to deposit today to be able to take out $500 a year for 10 years
from an account earning 8 percent.
$500 6.710 = $3,355 (Exhibit 1-D)
_NA
7. If you desire to have $12,000 for a down payment for a house in five years, what amount would
you need to deposit today? Assume that your money will earn 4 percent. (LO 1.3)
$12,000 0.822 = $9,864 (Exhibit 1-C)
PNPO
8. Pete Morton is planning to go to graduate school in a program of study that will take three years.
Pete wants to have $8,000 available each year for various school and living expenses. If he earns 3
RISO
percent on his money, how much must he deposit at the start of his studies to be able to withdraw
$8,000 a year for three years? (LO 1.3)
$8,000 2.829 = $22,632 (Exhibit 1-D)
SVE
9. Carla Lopez deposits $2,800 a year into her retirement account. If these funds have an average
earning of 7 percent over the 40 years until her retirement, what will be the value of her retirement
account? (LO 1.3)
EDU
$2,800 199.635 = $558,978 (Exhibit 1-B)
10. If a person spends $10 a week on coffee (assume $500 a year), what would be the future value of
?R?
that amount over 10 years if the funds were deposited in an account earning 3 percent? (LO 1.3)
$500 11.464 = $5,732 (Exhibit 1-B)
Copyright © 2020 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill
Education.
