Focus on Personal Finance Test Bank 7th Edition | All Chapters | Kapoor, Dlabay, Hughes & Hart

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,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 personal
Topic : 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
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




3) If a $10,000 investment earns a 3.8 percent annual return, what should its value be after
1 year?
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 dec
Topic : Time Value of Money




4) If a $10,000 investment earns a 7 percent annual return, what should its value be after
4 years? Use Exhibit 1-A.
4)




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, 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 dec
Topic : Time Value of Money




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
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 dec
Topic : Time Value of Money




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