Test Bank for
q q
Focus qon qPersonal qFinance, q7th qEdition
Chapter q1-14 qAnswers qare qat qthe qend qof qEach qchapter
Chapter q1
Student qname:
1) If qinflation qis qexpected qto qbe q9.50 qpercent, qhow qlong qwill qit qtake qfor qprices qto qdouble?
A) 5.58 qyears
B) 6.58 qyears
C) 17.58 qyears
D) 11.58 qyears
E) 7.58 qyears
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Learning qObjective q: q01-01 qIdentify qsocial qand qeconomic qinfluences qon qfinancial qliteracy qand
qpersonal qTopic q: qFinancial qPlanning
Topic q: qFinance qand qEconomics
qAccessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
2) If qa q$12,000 qinvestment qearns qinterest qof q$1,560 qin q1 qyear, qwhat qis qits qrate qof qreturn?
2) q
A) 100 qpercent
B) 79 qpercent
C) 26 qpercent
Version q1 1
, D) 58 qpercent
E) 13 qpercent
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Accessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
Learning qObjective q: q01-03 qCalculate qtime qvalue qof qmoney qsituations qto qanalyze qpersonal qfinancial
qdec qTopic q: qTime qValue qof qMoney
3) If qa q$10,000 qinvestment qearns qa q3.8 qpercent qannual qreturn, qwhat qshould qits qvalue qbe
qafter q1 qyear?
3) q
A) $10,000
B) $3,900
C) $10,380
D) $10,038
E) $3,800
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Accessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
Learning qObjective q: q01-03 qCalculate qtime qvalue qof qmoney qsituations qto qanalyze qpersonal qfinancial
qdec qTopic q: qTime qValue qof qMoney
4) If qa q$10,000 qinvestment qearns qa q7 qpercent qannual qreturn, qwhat qshould qits qvalue qbe
qafter q4 qyears? qUse qExhibit q1-A.
4) q
Version q1 2
, A) $13,110
B) $12,800
C) $10,700
D) $10,035
E) $14,700
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Accessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
Learning qObjective q: q01-03 qCalculate qtime qvalue qof qmoney qsituations qto qanalyze qpersonal qfinancial
qdec qTopic q: qTime qValue qof qMoney
5) If qMelinda qMiller qestimates qthat qher q$350 qweekly qgrocery qbill qwill qincrease qat qan
qannual qinflation qrate qof q3 qpercent, qwhat qshould qher qweekly qgrocery qbill qbe qin q2 qyears? qUse
qExhibit q1-A.
5) q
A) $70.00
B) $105.00
C) $371.35
D) $473.35
E) $380.45
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Accessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
Learning qObjective q: q01-03 qCalculate qtime qvalue qof qmoney qsituations qto qanalyze qpersonal qfinancial
qdec qTopic q: qTime qValue qof qMoney
Version q1 3
, 6) If qyou qdeposit q$500 qinto qa qcertificate qof qdeposit qearning q3.8 qpercent, qwhat qwould qbe
qyour qearnings qafter q12 qmonths?
6) q
A) $538.00
B) $500.00
C) $16.50
D) $21.50
E) $19.00
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Accessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
Learning qObjective q: q01-03 qCalculate qtime qvalue qof qmoney qsituations qto qanalyze qpersonal qfinancial
qdec qTopic q: qTime qValue qof qMoney
7) Randy qHill qwants qto qretire qin q25 qyears qwith q$1,500,000. qIf qhe qcan qearn q10 qpercent qper
qyear qon qhis qinvestments, qhow qmuch qdoes qhe qneed qto qdeposit qeach qyear qto qreach qhis qgoal?
qUse qExhibit q1-B. q(Round qyour qanswer qto qthe qnearest qdollar.)
7) q
A) $15,252
B) $30,000
C) $60,000
D) $14,752
E) None qof qthese qchoices qare qcorrect.
Version q1 4
q q
Focus qon qPersonal qFinance, q7th qEdition
Chapter q1-14 qAnswers qare qat qthe qend qof qEach qchapter
Chapter q1
Student qname:
1) If qinflation qis qexpected qto qbe q9.50 qpercent, qhow qlong qwill qit qtake qfor qprices qto qdouble?
A) 5.58 qyears
B) 6.58 qyears
C) 17.58 qyears
D) 11.58 qyears
E) 7.58 qyears
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Learning qObjective q: q01-01 qIdentify qsocial qand qeconomic qinfluences qon qfinancial qliteracy qand
qpersonal qTopic q: qFinancial qPlanning
Topic q: qFinance qand qEconomics
qAccessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
2) If qa q$12,000 qinvestment qearns qinterest qof q$1,560 qin q1 qyear, qwhat qis qits qrate qof qreturn?
2) q
A) 100 qpercent
B) 79 qpercent
C) 26 qpercent
Version q1 1
, D) 58 qpercent
E) 13 qpercent
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Accessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
Learning qObjective q: q01-03 qCalculate qtime qvalue qof qmoney qsituations qto qanalyze qpersonal qfinancial
qdec qTopic q: qTime qValue qof qMoney
3) If qa q$10,000 qinvestment qearns qa q3.8 qpercent qannual qreturn, qwhat qshould qits qvalue qbe
qafter q1 qyear?
3) q
A) $10,000
B) $3,900
C) $10,380
D) $10,038
E) $3,800
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Accessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
Learning qObjective q: q01-03 qCalculate qtime qvalue qof qmoney qsituations qto qanalyze qpersonal qfinancial
qdec qTopic q: qTime qValue qof qMoney
4) If qa q$10,000 qinvestment qearns qa q7 qpercent qannual qreturn, qwhat qshould qits qvalue qbe
qafter q4 qyears? qUse qExhibit q1-A.
4) q
Version q1 2
, A) $13,110
B) $12,800
C) $10,700
D) $10,035
E) $14,700
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Accessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
Learning qObjective q: q01-03 qCalculate qtime qvalue qof qmoney qsituations qto qanalyze qpersonal qfinancial
qdec qTopic q: qTime qValue qof qMoney
5) If qMelinda qMiller qestimates qthat qher q$350 qweekly qgrocery qbill qwill qincrease qat qan
qannual qinflation qrate qof q3 qpercent, qwhat qshould qher qweekly qgrocery qbill qbe qin q2 qyears? qUse
qExhibit q1-A.
5) q
A) $70.00
B) $105.00
C) $371.35
D) $473.35
E) $380.45
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Accessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
Learning qObjective q: q01-03 qCalculate qtime qvalue qof qmoney qsituations qto qanalyze qpersonal qfinancial
qdec qTopic q: qTime qValue qof qMoney
Version q1 3
, 6) If qyou qdeposit q$500 qinto qa qcertificate qof qdeposit qearning q3.8 qpercent, qwhat qwould qbe
qyour qearnings qafter q12 qmonths?
6) q
A) $538.00
B) $500.00
C) $16.50
D) $21.50
E) $19.00
Question qDetails
qBloom's q: qApply
qDifficulty q: q3 qHard
Accessibility q: qKeyboard qNavigation
qAccessibility q: qScreen qReader
qCompatible qGradable q: qautomatic
Learning qObjective q: q01-03 qCalculate qtime qvalue qof qmoney qsituations qto qanalyze qpersonal qfinancial
qdec qTopic q: qTime qValue qof qMoney
7) Randy qHill qwants qto qretire qin q25 qyears qwith q$1,500,000. qIf qhe qcan qearn q10 qpercent qper
qyear qon qhis qinvestments, qhow qmuch qdoes qhe qneed qto qdeposit qeach qyear qto qreach qhis qgoal?
qUse qExhibit q1-B. q(Round qyour qanswer qto qthe qnearest qdollar.)
7) q
A) $15,252
B) $30,000
C) $60,000
D) $14,752
E) None qof qthese qchoices qare qcorrect.
Version q1 4
