Test 2- FIN ACTUAL UPDATED QUESTIONS AND CORRECT ANSWERS
Estimate the future values if $5,000 is invested at 5 $8,145
percent for ten years.
$8,145
$5,212
$5,017
$3,070
Determine the present value if $15,000 is to be received $7,530
at the end of eight years and the discount rate is 9
percent.
$7,530
$14,925
$29,888
$7,504
Determine the present value now of an investment of $5,658
$3,000 made one year from now and an additional
$3,000 made two years from now if the annual discount
rate is 4 percent.
$5,885
$5,658
$3,397
$5,970
, You are considering borrowing $150,000 to purchase a $1,101
new home. Calculate the monthly payment needed to
amortize an 8 percent, fixed-rate, 30-year mortgage
loan.
$1,093
$1,101
$1,093
$101
Use a financial calculator or computer software program $32,559
to answer the following question: What is the present
value of $359,000 that is to be received at the end of 23
years if the discount rate is 11 percent?
$32,559
$235,940
$30,583
$350,036
You need to have $35,000 on hand to buy a new Lexus present value factors
five years from today. To achieve that goal, you want to
know how much you must invest today in a certificate of
deposit guaranteed to return you 3% per year. To help
determine how much to investment today, you will use:
present value factors
annuity value factors
present value factors of an annuity
future value factors of an annuity
You deposit $1,000 in a long-term certificate of deposit 13 years
with an interest rate of 9%. How many years will it take for
you to triple your deposit? Pick the closest answer.
11 years
12 years
13 years
14 years
Estimate the future values if $5,000 is invested at 5 $8,145
percent for ten years.
$8,145
$5,212
$5,017
$3,070
Determine the present value if $15,000 is to be received $7,530
at the end of eight years and the discount rate is 9
percent.
$7,530
$14,925
$29,888
$7,504
Determine the present value now of an investment of $5,658
$3,000 made one year from now and an additional
$3,000 made two years from now if the annual discount
rate is 4 percent.
$5,885
$5,658
$3,397
$5,970
, You are considering borrowing $150,000 to purchase a $1,101
new home. Calculate the monthly payment needed to
amortize an 8 percent, fixed-rate, 30-year mortgage
loan.
$1,093
$1,101
$1,093
$101
Use a financial calculator or computer software program $32,559
to answer the following question: What is the present
value of $359,000 that is to be received at the end of 23
years if the discount rate is 11 percent?
$32,559
$235,940
$30,583
$350,036
You need to have $35,000 on hand to buy a new Lexus present value factors
five years from today. To achieve that goal, you want to
know how much you must invest today in a certificate of
deposit guaranteed to return you 3% per year. To help
determine how much to investment today, you will use:
present value factors
annuity value factors
present value factors of an annuity
future value factors of an annuity
You deposit $1,000 in a long-term certificate of deposit 13 years
with an interest rate of 9%. How many years will it take for
you to triple your deposit? Pick the closest answer.
11 years
12 years
13 years
14 years
