Test Bank for Focus on Personal Finance, 7th Edition by Jack R. Kapoor

Test Bank-

Focus On Personal Finance
Author: Jack R. Kapoor



7th Edition




Version 1 1

,Test Bank For
Focus On Personal Finance, 7th Edition

Chapter 1-14 Answers Are At The End Of Each Chapter



Chapter 1



Student Name:
1) If Inflation Is Expected To Be 9.50 Percent, How Long Will It Take For Prices To Double?

A) 5.58 Years
B) 6.58 Years
C) 17.58 Years
D) 11.58 Years
E) 7.58 Years



Question Details
Bloom's : Apply
Difficulty : 3 Hard
Learning Objective : 01-01 Identify Social And Economic Influences On Financial Literacy And
PersonalTopic : Financial Planning
Topic : Finance And Economics
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Gradable : Automatic




2) If A $12,000 Investment Earns Interest Of $1,560 In 1 Year, What Is Its Rate Of Return?
2)



A) 100 Percent
B) 79 Percent
C) 26 Percent


Version 1 2

, D) 58 Percent
E) 13 Percent



Question Details
Bloom's : Apply
Difficulty : 3 Hard
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Gradable : Automatic
Learning Objective : 01-03 Calculate Time Value Of Money Situations To Analyze Personal
Financial DecTopic : Time Value Of Money




3) If A $10,000 Investment Earns A 3.8 Percent Annual Return, What Should Its Value Be
After 1Year?
3)


A) $10,000
B) $3,900
C) $10,380
D) $10,038
E) $3,800



Question Details
Bloom's : Apply
Difficulty : 3 Hard
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Gradable : Automatic
Learning Objective : 01-03 Calculate Time Value Of Money Situations To Analyze Personal
Financial DecTopic : Time Value Of Money




4) If A $10,000 Investment Earns A 7 Percent Annual Return, What Should Its Value Be
After 4Years? Use Exhibit 1-A.
4)




Version 1 3

, A) $13,110
B) $12,800
C) $10,700
D) $10,035
E) $14,700



Question Details
Bloom's : Apply
Difficulty : 3 Hard
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Gradable : Automatic
Learning Objective : 01-03 Calculate Time Value Of Money Situations To Analyze Personal
Financial DecTopic : Time Value Of Money




5) If Melinda Miller Estimates That Her $350 Weekly Grocery Bill Will Increase At An
AnnualInflation Rate Of 3 Percent, What Should Her Weekly Grocery Bill Be In 2 Years? Use
Exhibit 1-A.
5)


A) $70.00
B) $105.00
C) $371.35
D) $473.35
E) $380.45



Question Details
Bloom's : Apply
Difficulty : 3 Hard
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Gradable : Automatic
Learning Objective : 01-03 Calculate Time Value Of Money Situations To Analyze Personal
Financial DecTopic : Time Value Of Money




Version 1 4