Test Bank for Focus on Personal Finance 7th Edition by Jack R. Kapoor |ISBN: 9781260772371| Guide A+

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TEST BANK JN
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TEST BANK

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TEST BANK
Focus On Personal Finance 7th Edition Jack Kapoor by Les Dlabay, Robert
J. Hughes, Melissa Hart




Student name:
1) If inflation is expected to be 9.50 percent, how long will it take for prices to double?
1)
JN
A) 5.58 years
B) 6.58 years
C) 17.58 years
D) 11.58 years
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E) 7.58 years
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Question Details
Bloom's : Apply
Difficulty : 3 Hard
SE
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)
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A) $10,000
B) $3,900
C) $10,380
D) $10,038
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E) $3,800
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Question Details
Bloom's : Apply
SE
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
JN

5) If Melinda Miller estimates that her $350 weekly grocery bill will increase at an annual
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inflation rate of 3 percent, what should her weekly grocery bill be in 2 years? Use Exhibit 1-A.
5)
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A) $70.00
B) $105.00
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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