6) If you want to have \$1,200 in 27 months, how much money must you put in a savings account today? Assume that the savings account pays 14% and it is compounded monthly (round to the nearest \$10). A) \$910 B) \$890 C) \$880 D) \$860

# Week four Fian

1) At what rate must \$400 be compounded annually for it to grow to \$716.40 in 10 years?

1. A) 6%
2. B) 5%
3. C) 7%
4. D) 8%

2) You just purchased a parcel of land for \$10,000. If you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years?

1. A) \$25,000
2. B) \$31,060
3. C) \$38,720
4. D) \$34,310

3) If you place \$50 in a savings account with an interest rate of 7% compounded weekly, what will the investment be worth at the end of five years (round to the nearest dollar)?

1. A) \$72
2. B) \$70
3. C) \$71
4. D) \$57

4) Shorty Jones wants to buy a one-way bus ticket to Mule-Snort, Pennsylvania. The ticket costs \$142, but Mr. Jones has only \$80. If Shorty puts the money in an account that pays 9% interest compounded monthly, how many months must Shorty wait until he has \$142 (round to the nearest month)?

1. A) 73 months
2. B) 75 months
3. C) 77 months
4. D) 79 months

5) If you want to have \$1,700 in seven years, how much money must you put in a savings account today? Assume that the savings account pays 6% and it is compounded quarterly (round to the nearest \$10).

1. A) \$1,120
2. B) \$1,130
3. C) \$1,110
4. D) \$1,140

6) If you want to have \$1,200 in 27 months, how much money must you put in a savings account today? Assume that the savings account pays 14% and it is compounded monthly (round to the nearest \$10).

1. A) \$910
2. B) \$890
3. C) \$880
4. D) \$860

7) You bought a painting 10 years ago as an investment. You originally paid \$85,000 for it. If you sold it for \$484,050, what was your annual return on investment?

1. A) 47%
2. B) 4.7%
3. C) 19%
4. D) 12.8%

8) You deposit \$5,000 today in an account drawing 12% compounded quarterly. How much will you have in the account at the end of 2 1/2 years?

1. A) \$7,401
2. B) \$5,523
3. C) \$7,128
4. D) \$6,720

9) How many years will it take for an initial investment of \$200 to grow to \$544 if it is invested today at 8% compounded annually?

1. A) 8 years
2. B) 10 years
3. C) 11 years
4. D) 13 years

10) If you purchased a share of Mico.com stock on March 1, 1993 for \$45 and you sold the stock at \$168 on February 28, 1998, what was your annual rate of return on the stock?

1. A) 83%
2. B) 75%
3. C) 20%
4. D) 30%
5. E) 50%

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xx xx xxxx rate xxxx \$400 be compounded xxxxxxxx for it xx grow to \$716.40 xx xx years?

xx xx

1. B) 5%

xx xx

xx 8%

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## Week four Fian

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assignment xxxxxxxxx

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Week Four xxxxxxx xxx

Question x

xxxxxxx xxx xx x PV (1+r)^n Where FV is xxx future xxxxxx xx xx the present value, x xx xxx interest xxx x = xxxxxx xx xxxxxxxxxxx periods,

xx xxxx some of xxxxx values xxxxxxxxxxx = \$716.40 PV = xxxxxx x 10 Plug xxxx xxx

xxxxxx = xxxxxx + r) xx

xxxxx for xx

xxxxx = (1 + r)10

1.7910.1 = xxxx x xxx

r = 0.06009014

xx xxxxxxxxx

xx 6% (rounded)

xxxxxxx A

xxxxxxxx 2

The formula for calculating xxx future value xx FV=PV(1+r)^ x

xxxxx PV xx xxx present value,r xx xxx interest xxx n x xxxxxx xx compounding xxxxxxxx

xx xxxxxxxxxx 10%, xxxxxxxxx

Plug in xxxxx values

x \$10000(1 +0.12)^10 x xxxxxx

=\$31060

xxxxxxxx 3

FV = xx xx x xx ^n

xx = xxx

x x xxxx = 0.1346%

x xxxxxxxx = 5*52 x xxx

xx x 50(1 x 0.001346)^260

xx x xxxxxx

FV x \$71 (Rounded the xxxxxxx whole dollar)

xxxxxxxx 4

Interest rate=9%

xxxxxxxx rate per xxxxxxxxxxxxxxxxx

FV=\$142

xxxxx

xxxxxxxxxxxxxxxxxx

xxxxxx = xxxxxxxx

xxxxx x 1.0075^n

x = log xxxxxxxxxxxxxxx x 76.79326598

xx 77(rounded xx xxx nearest xxxxxxxx

n x xx months

xxxxxxx x

Question 5

FV x xx xxxxxxxx

xxxxx x PV xxxxxxxxxxxxxxxx

\$1700 x PV (1+0.015) xxx

PV = \$1700/ (1.015) xxx

xx x xxxxxxxxxxxx

PV x xxxxx xxxxxxxx to the xxxxxxx xxxxx dollar)

Question 6

xx = xxxxxxxxxx x

xxx \$1,200, xxxx xxxxxxx xxxxx

1,200 x xxxxxxxxxxxxxxxxx

xx =1,200/ xxxxxxxxxxxxxxxx

xx = \$877.3448828

xxx xxxx (Rounded xx the nearest \$10)

xxxxxxxx 7

xxxxx xxx formula xx x PV*(1+r)^n x PV xx the xxxxxxx value

– – – more text follows – – –

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