Solution Manual for Focus on Personal Finance, 7th Edition by Jack R. Kapoor ISBN, 978-1260772371 Chapter 1-14

TEST BANK FOR
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FocusgongPersonalgFinance,g7thgEdition

Chapterg1-14gAnswersgaregatgthegendgofgEachgchapter



Chapterg1



Studentgname:
1) Ifginflationgisgexpectedgtogbeg9.50gpercent,ghowglonggwillgitgtakegforgpricesgtogdouble?

A) 5.58g years
B) 6.58gyears
C) 17.58gyears
D) 11.58g years
E) 7.58gyears



QuestiongDetailsgBloom
'sg:gApplygDifficultyg:g3g
Hard
LearninggObjectiveg:g01-
01gIdentifygsocialgandgeconomicginfluencesgongfinancialgliteracygandgpersonalgTopicg:gFinancialgPlanni
ng
Topicg:gFinancegandgEconomicsgAccessib
ilityg:gKeyboardgNavigationgAccessibilityg
:gScreengReadergCompatiblegGradableg:ga
utomatic




2) Ifgag$12,000ginvestmentgearnsginterestgofg$1,560ging1gyear,gwhatgisgitsgrategofgreturn?
2) g



A) 100gpercent
B) 79gpercent
C) 26gpercent

Versiong1 1

, D) 58gpercent
E) 13gpercent



QuestiongDetailsgBloom
'sg:gApplygDifficultyg:g3g
Hard
Accessibilityg:gKeyboardgNavigationgAcc
essibilityg:gScreengReadergCompatiblegGra
dableg:gautomatic
LearninggObjectiveg:g01-
03gCalculategtimegvaluegofgmoneygsituationsgtoganalyzegpersonalgfinancialgdecgTopicg:gTimegValuegofg
Money




3) Ifgag$10,000ginvestmentgearnsgag3.8gpercentgannualgreturn,gwhatgshouldgitsgvaluegbegafterg
1gyear?
3) g


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



QuestiongDetailsgBloom
'sg:gApplygDifficultyg:g3g
Hard
Accessibilityg:gKeyboardgNavigationgAcc
essibilityg:gScreengReadergCompatiblegGra
dableg:gautomatic
LearninggObjectiveg:g01-
03gCalculategtimegvaluegofgmoneygsituationsgtoganalyzegpersonalgfinancialgdecgTopicg:gTimegValuegofg
Money




4) Ifgag$10,000ginvestmentgearnsgag7gpercentgannualgreturn,gwhatgshouldgitsgvaluegbegafterg
4gyears?gUsegExhibitg1-A.
4) g


Versiong1 2

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



QuestiongDetailsgBloom
'sg:gApplygDifficultyg:g3g
Hard
Accessibilityg:gKeyboardgNavigationgAcc
essibilityg:gScreengReadergCompatiblegGra
dableg:gautomatic
LearninggObjectiveg:g01-
03gCalculategtimegvaluegofgmoneygsituationsgtoganalyzegpersonalgfinancialgdecgTopicg:gTimegValuegofg
Money




5) IfgMelindagMillergestimatesgthatgherg$350gweeklyggrocerygbillgwillgincreasegatgangannu
alginflationgrategofg3gpercent,gwhatgshouldghergweeklyggrocerygbillgbeging2gyears?gUsegExhibitg
1-A.
5) g


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



QuestiongDetailsgBloom
'sg:gApplygDifficultyg:g3g
Hard
Accessibilityg:gKeyboardgNavigationgAcc
essibilityg:gScreengReadergCompatiblegGra
dableg:gautomatic
LearninggObjectiveg:g01-
03gCalculategtimegvaluegofgmoneygsituationsgtoganalyzegpersonalgfinancialgdecgTopicg:gTimegValuegofg
Money




Versiong1 3

, 6) Ifgyougdepositg$500gintogagcertificategofgdepositgearningg3.8gpercent,gwhatgwouldgbegyo
urgearningsgafterg12gmonths?
6) g


A) $538.00
B) $500.00
C) $16.50
D) $21.50
E) $19.00



QuestiongDetailsgBloom
'sg:gApplygDifficultyg:g3g
Hard
Accessibilityg:gKeyboardgNavigationgAcc
essibilityg:gScreengReadergCompatiblegGra
dableg:gautomatic
LearninggObjectiveg:g01-
03gCalculategtimegvaluegofgmoneygsituationsgtoganalyzegpersonalgfinancialgdecgTopicg:gTimegValuegofg
Money




7) RandygHillgwantsgtogretireging25gyearsgwithg$1,500,000.gIfghegcangearng10gpercentgpergye
argonghisginvestments,ghowgmuchgdoesghegneedgtogdepositgeachgyeargtogreachghisggoal?gUsegExh
ibitg1-B.g(Roundgyourganswergtogthegnearestgdollar.)
7) g


A) $15,252
B) $30,000
C) $60,000
D) $14,752
E) Nonegofgthesegchoicesgaregcorrect.




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