Focus on Personal Finance 7th Edition Jack Kapoor, Les Dlabay, Robert J. Hughes & Melissa Hart – Complete Test Bank

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,FULL TEST BANK FOR
Focus On Personal Finance 7th Edition Jack Kapoor, Les Dlabay, Robert J.
Hughes, Melissa Hart
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Student name:__________
1) If inflation is expected to be 9.50 percent, how long will it take for prices to double?
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1) ______
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A) 5.58 years
B) 6.58 years
C) 17.58 years
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D) 11.58 years
E) 7.58 years



Question Details
Bloom's : Apply
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Difficulty : 3 Hard
Learning Objective : 01-01 Identify social and economic influences on financial literacy and personal
Topic : Financial Planning
Topic : Finance and Economics
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Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Gradable : automatic
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2) If a $12,000 investment earns interest of $1,560 in 1 year, what is its rate of return?
2) ______
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A) 100 percent
B) 79 percent
C) 26 percent
D) 58 percent
E) 13 percent




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,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 dec
Topic : Time Value of Money
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3) If a $10,000 investment earns a 3.8 percent annual return, what should its value be after 1
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year?
3) ______
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A) $10,000
B) $3,900
C) $10,380
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D) $10,038
E) $3,800



Question Details
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Bloom's : Apply
Difficulty : 3 Hard
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
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Gradable : automatic
Learning Objective : 01-03 Calculate time value of money situations to analyze personal financial dec
Topic : Time Value of Money
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4) If a $10,000 investment earns a 7 percent annual return, what should its value be after 4
years? Use Exhibit 1-A.
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4) ______




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, A) $13,110
B) $12,800
C) $10,700
D) $10,035
E) $14,700
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Question Details
Bloom's : Apply
Difficulty : 3 Hard
Accessibility : Keyboard Navigation
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Accessibility : Screen Reader Compatible
Gradable : automatic
Learning Objective : 01-03 Calculate time value of money situations to analyze personal financial dec
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Topic : Time Value of Money
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5) If Melinda Miller estimates that her $350 weekly grocery bill will increase at an annual
inflation rate of 3 percent, what should her weekly grocery bill be in 2 years? Use Exhibit 1-A.
5) ______


A) $70.00
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B) $105.00
C) $371.35
D) $473.35
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E) $380.45
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Question Details
Bloom's : Apply
Difficulty : 3 Hard
Accessibility : Keyboard Navigation
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Accessibility : Screen Reader Compatible
Gradable : automatic
Learning Objective : 01-03 Calculate time value of money situations to analyze personal financial dec
Topic : Time Value of Money




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