Achieving Academic Excellence Exam 5
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[05] Lesson 5 Exam - Results
Attempt 1 of 2
Written Jun 5, 2019 11:52 AM - Jun 5, 2019 12:10 PM
mpt Score
90 / 100 - 90 %
rall Grade (Highest Attempt)
90 / 100 - 90 %
stion 1
10 / 10 points
Understanding how a budget is created will help you develop good financial decision making skills. This is
known as:
Question options:
Financial expertise
Financial literacy
Accounting
Math
on 0 / 1
poin
Which of the following is an example of budgeting?
Question options:
Deciding to go to a cheaper restaurant rather than an expensive one
Giving yourself a certain spending limit per month
Calculating monthly expenses for rent, utilities and car payments before going on a trip
All of the above are examples of budgeting
on 10 / 1
points
The following are examples of using math in your everyday life EXCEPT:
Question options:
Budgeting your time
Baking a cake
Estimating your monthly budget
All of the above are examples of using math everyday
on 10 / 1
points
Emma is buying several boxes of cake mix at the grocery store. Each box of cake mix is $2.50 and Emma wants to buy six boxes to stock her pantry. Emma's grocery budget is $40.00 for the week. What percentage of her grocery budget will be spent on cake mix? Round your final percentage to the nearest whole number.
Question options:
6.25%
38%
21%
37%
on 10 / 1
points
When setting a budget, you should use the 50/20/30 rule.
Question options:
True
False
on 10 / 1
points
Suppose that during this week you have spent $25.61 on gas for your car, $92.46 on groceries, $43.78 on
a birthday gift for a friend and $19.33 on a new pair of pants. Round each purchase and create an estimate for your weekly expenses. Which of the following best reflects your estimated total weekly expenses?
Question options:
$180
$200
$220
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Related Questions
give your own perspective on why financial literacy is important
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A Apex Learning - Courses
Ô https://course.apexlearning.com/public/activity/2005002/assessment
Financial Literacy (2020)
L 2.5.2 Quiz Budgeting and Cost of Living
Liliana's $3300 monthly budget is represented by the pie chart below. All
amounts are in dollars.
429
Monthly Budget
858
I Car Expenses
I Housing
I Utilities
Groceries
924
Savings
I Other
528
363
198
What percentage of her monthly budget does Liliana spend on groceries?
O A. 6%
O B. 16%
O C. 13%
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Quantitative Problem 1: You plan to deposit $2,200 per year for 6 years into a money market account with an annual return of 2%. You plan
to make your first deposit one year from today.
a. What amount will be in your account at the end of 6 years? Do not round intermediate calculations. Round your answer to the nearest cent.
4
b. Assume that your deposits will begin today. What amount will be in your account after 6 years? Do not round intermediate calculations.
Round your answer to the nearest cent.
6
Hide Feedback
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F
Check My Work Feedback
Review the FVAN definition and its equation.
Q Search
Understand the difference between an ordinary annuity and an annuity due.
Be careful about the order of mathematical operations if using the equation.
If using a financial calculator, be…
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For you performance task#2 identify what do the underline words refered to Miriam deposite an amount of php89632.37 from abc bank on the 7th birthday of her daughter that pays 1% interest compounded anually she received an amount of php100000 on the 18th birthday of her daughter
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My Blackboard
MTH101 B01 - QUANTITATIVE LITERACY (Fall 2021 Credit Courses)
Homework
Homework 1.3
Homework 1.3
Score: 0/19
2/8 answered
X Question 3
>
Score on last try: 0 of 1 pts. See Details for more.
> Next question
2 Get a similar question You can retry this question below
You deposit $6000 in an account earning 5% interest compóunded monthly. How much will you have in the
account in 15 years?
$ 8,540.57
Question Help: Message instructor
Submit Question
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Question
Use Scenario Manager to create a scenario report summarizing the monthly payments (use the PMT
function) for the scenarios given below.
Scenario
Principal borrowed
Monthly rate
Number of monthly payments
Lowest Principal
$770,000
0.60%
360
Likely Principal
$900,000
0.65%
240
Highest Principal
$980,000
0.70%
180
1. The scenario summary should be placed on a new worksheet that is different from the one that
contains all the information and the base scenario/model.
2. All input and output cells in the scenario summary should be clearly named using range names.
3. Refer to the instructions listed under 'Homework assignments' in D2L.
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V Content
Pearson (Assignments) - MA
Ô https://www.mathxl.com/Student/PlayerTest.aspx?testld%3D225147196
3 103 Spring 2021
st: Test 2 (Finance) Online
nis Question: 1 pt
5 of 19 (1 complete) ▼
How much must be deposited today into the following account in order to have a $135,000 college fund in 11 years? Assume no additional deposits are made.
An account with quarterly compounding and an APR of 7.32%
Sshould be deposited today.
(Do not round until the final answer. Then round to the nearest cent as needed.)
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FMfcgxwLsmmztLTTFHnxfgtfwHRqwdvc?projector=18&messagePartld=0.3
Homework Assignment #3 Due in drop box 4/8 by 11:59 p.m.
Chapter 6
2. John Walters is comparing the cost of credit to the cash price of an item. If John makes an $80
down payment and pays $35 a month for 24 months, how much more will that amount be than
the cash price of $685?
5. A work-at-home opportunity is available in which you will receive 3 percent of the sales for
customers you refer to the company. The cost of your "franchise fee" is $600. How much would
your customers have to buy to cover the cost of this fee?
Chapter 7
7. Which mortgage would result in higher total payments?
Mortgage A: $985 a month for 30 years
Mortgage B: $780 a month for 5 years and $1,056 for 25 years
end
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If your answer is 41719.11 it's wrong
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Instruction: Use the table below to acquire information and answer the following questions. Please do not use signs like Rs., $, % etc in your answer. If you calculate percentage as 10.23% than answer must write like 10.23 only (do not write like 10.23% or 0.1023)
Year
0
1
2
3
4
Cash flows
−$950
$525
$485
$445
$405
Ms ABC is considering an opportunity of a new investment that has the following cash flow and weighted average cos of capital is 13 percent. What is the project's discounted payback in years? Answer should correct up to 2 decimal places.
Ms ABC is considering an opportunity of a new investment that has the following cash flow and weighted average cos of capital is 13 percent. What is the project's net present value?
Ms ABC is considering an opportunity of a new investment that has the following cash flow and weighted average cos of capital is 13 percent. What is the project's profitability index? Answer should correct up to 2…
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PERFORMANCE TASK NO. 4
Solve the following problems completely. Read and understand the situation below, then
answer the question or perform the tasks that follow.
1. A group of college students decided to invest the money they earned from the fund-raising
project. After 6 months from today, they want to withdraw from this fund P 10,000.00
quarterly for 1 year to fund for community service. How much is the present total deposit if
the interest rate is 4% converted quarterly?
2. A company offers a deferred payment option for the purchase of any furniture. Gladys plans
to buy a dining table set with a monthly payment ofP 4,000.00 for 2 years. The payment
will start at the end of 3 months. How much is the cash price of the dining set if the company
will give 10% compounded monthly?
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TIME VALUE OF MONEY ANALYSIS You have applied for a job with a local bank. As part of its evaluation
process, you must take an examination on time value of money analysis covering the following questions:
a. Draw time lines for (1) a $100 lump sum cash flow at the end of Year 2:01an ordinary annuity of $100 per year
for 3 years; and (3) an uneven cas Graphical user interface, text, application $50 at the end of Years 0 through 3.
b. (1) What's the future value of $
al compounding?
(2)
What's the prosent value of $ Description automatically generated
strate is 10%, annual compounding?
C.
d.
e.
What annual interest rate would cause $100 to grow to $125.97 in 3 years?
If a company's sales are growing at a rate of 20% annually, how long will it take sales to double?
What's the difference between an ordinary annuity and an annuity due? What type of annuity is shown
here? How would you change it to the other type of annuity?
1
0
ㅏ
2
+
$100
0
3
1
$100
$100
f. (1)
What is the future value of a…
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What is the answer A thru D?
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a) Will credit cards help? The average undergraduate student leaves college with a diploma and
around $2750 in credit card debt (graduate students; $4800). Suppose you have a credit card with a
balance of $2750 and an interest rate of 19.8% APR. The minimum payment is $45.00. The amount
of interest due each month is figured as current balance
where r is the rate (decimal form) and n is
12. Fill in the table, making minimum payments.
Current
balance
Month
Interest
Payment
Amount applied to principal
1
$2750.00
$45.38
$45.00
-$0.38
$2750.38
$45.00
$45.00
4
$45.00
$45.00
$45.00
$45.00
8.
$45.00
9.
$45.00
10
$45.00
11
$45.00
12
$45.00
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Assignment - 1. Credit Scores and Loans
Attempt 1 of 1
ASSIGNMENTS
COURSES
SECTION 3 OF 4
QUESTION 6 OF 8
1
2
4
5
>>
Match the option with the lowest monthly payment to highest monthly payment.
$12,000 loan with 1% simple
1.
lowest payment
interest over 7 years
$7,500 loan with 4% simple interest
2. second highest payment
over 5 years
$8,500 loan with 2% simple
3. third highest payment
interest over 6 years
$10,000 loan with 3% simple
4. fourth highest payment
interest over 4 years
9:19 PM
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2/4/2021
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R
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Create an Excel spreadsheet that calculates the internal
rate of return for the following set of cashflows: Period
012345 Cashflow $1123.01 $100 $100 $100 $100 $
1,100 Note your spreadsheet should calculate the
present value of each of the individual cashflows as well
as the sum based on your IRR input. Once you have
completed your IRR calculation check your work with
the Excel IRR function
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PROJECT 8 QR Spring 2020 Finances - Word
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Mailings
Review
View
Help
Tell me what you want to do
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5. Suppose you want to have $900,000 forretirement in 30 years. Your account earns 8% interest.
a) How much would you needto deposit in the account each month
b) How much interest will you earn?
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Please help me answer parts D and F ONLY.
Thank you!
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SEE MORE QUESTIONS
Recommended textbooks for you
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:9781337679503
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Related Questions
- give your own perspective on why financial literacy is importantarrow_forwardA Apex Learning - Courses Ô https://course.apexlearning.com/public/activity/2005002/assessment Financial Literacy (2020) L 2.5.2 Quiz Budgeting and Cost of Living Liliana's $3300 monthly budget is represented by the pie chart below. All amounts are in dollars. 429 Monthly Budget 858 I Car Expenses I Housing I Utilities Groceries 924 Savings I Other 528 363 198 What percentage of her monthly budget does Liliana spend on groceries? O A. 6% O B. 16% O C. 13% + PREVIOUS P Type here to search 49°F Mostly cloudy 14) 4|ロ aarrow_forwardLearning SE MINDTAP evo/index.html?deploymentid=60338517901669990751687760&elSBN=9780357517642&nbld=3626933&snap... ☆ lomework 6300. 1 mancial Lailuialvi vi a spicoubnicel. Hide Feedback Correct X f6 Quantitative Problem 1: You plan to deposit $2,200 per year for 6 years into a money market account with an annual return of 2%. You plan to make your first deposit one year from today. a. What amount will be in your account at the end of 6 years? Do not round intermediate calculations. Round your answer to the nearest cent. 4 b. Assume that your deposits will begin today. What amount will be in your account after 6 years? Do not round intermediate calculations. Round your answer to the nearest cent. 6 Hide Feedback Incorrect F Check My Work Feedback Review the FVAN definition and its equation. Q Search Understand the difference between an ordinary annuity and an annuity due. Be careful about the order of mathematical operations if using the equation. If using a financial calculator, be…arrow_forward
- For you performance task#2 identify what do the underline words refered to Miriam deposite an amount of php89632.37 from abc bank on the 7th birthday of her daughter that pays 1% interest compounded anually she received an amount of php100000 on the 18th birthday of her daughterarrow_forwardMy Blackboard MTH101 B01 - QUANTITATIVE LITERACY (Fall 2021 Credit Courses) Homework Homework 1.3 Homework 1.3 Score: 0/19 2/8 answered X Question 3 > Score on last try: 0 of 1 pts. See Details for more. > Next question 2 Get a similar question You can retry this question below You deposit $6000 in an account earning 5% interest compóunded monthly. How much will you have in the account in 15 years? $ 8,540.57 Question Help: Message instructor Submit Question МacBook Air 000 D00 F6 F5 F4 esc F2 F3 F1 %24 并arrow_forwardQuestion Use Scenario Manager to create a scenario report summarizing the monthly payments (use the PMT function) for the scenarios given below. Scenario Principal borrowed Monthly rate Number of monthly payments Lowest Principal $770,000 0.60% 360 Likely Principal $900,000 0.65% 240 Highest Principal $980,000 0.70% 180 1. The scenario summary should be placed on a new worksheet that is different from the one that contains all the information and the base scenario/model. 2. All input and output cells in the scenario summary should be clearly named using range names. 3. Refer to the instructions listed under 'Homework assignments' in D2L.arrow_forward
- V Content Pearson (Assignments) - MA Ô https://www.mathxl.com/Student/PlayerTest.aspx?testld%3D225147196 3 103 Spring 2021 st: Test 2 (Finance) Online nis Question: 1 pt 5 of 19 (1 complete) ▼ How much must be deposited today into the following account in order to have a $135,000 college fund in 11 years? Assume no additional deposits are made. An account with quarterly compounding and an APR of 7.32% Sshould be deposited today. (Do not round until the final answer. Then round to the nearest cent as needed.)arrow_forwardFMfcgxwLsmmztLTTFHnxfgtfwHRqwdvc?projector=18&messagePartld=0.3 Homework Assignment #3 Due in drop box 4/8 by 11:59 p.m. Chapter 6 2. John Walters is comparing the cost of credit to the cash price of an item. If John makes an $80 down payment and pays $35 a month for 24 months, how much more will that amount be than the cash price of $685? 5. A work-at-home opportunity is available in which you will receive 3 percent of the sales for customers you refer to the company. The cost of your "franchise fee" is $600. How much would your customers have to buy to cover the cost of this fee? Chapter 7 7. Which mortgage would result in higher total payments? Mortgage A: $985 a month for 30 years Mortgage B: $780 a month for 5 years and $1,056 for 25 years end F12 home prt sc F10 F6 F7 F8 F9 F11 F3 F4 F5 %23 % 5 6 7 8 9arrow_forwardIf your answer is 41719.11 it's wrongarrow_forward
- Instruction: Use the table below to acquire information and answer the following questions. Please do not use signs like Rs., $, % etc in your answer. If you calculate percentage as 10.23% than answer must write like 10.23 only (do not write like 10.23% or 0.1023) Year 0 1 2 3 4 Cash flows −$950 $525 $485 $445 $405 Ms ABC is considering an opportunity of a new investment that has the following cash flow and weighted average cos of capital is 13 percent. What is the project's discounted payback in years? Answer should correct up to 2 decimal places. Ms ABC is considering an opportunity of a new investment that has the following cash flow and weighted average cos of capital is 13 percent. What is the project's net present value? Ms ABC is considering an opportunity of a new investment that has the following cash flow and weighted average cos of capital is 13 percent. What is the project's profitability index? Answer should correct up to 2…arrow_forwardPERFORMANCE TASK NO. 4 Solve the following problems completely. Read and understand the situation below, then answer the question or perform the tasks that follow. 1. A group of college students decided to invest the money they earned from the fund-raising project. After 6 months from today, they want to withdraw from this fund P 10,000.00 quarterly for 1 year to fund for community service. How much is the present total deposit if the interest rate is 4% converted quarterly? 2. A company offers a deferred payment option for the purchase of any furniture. Gladys plans to buy a dining table set with a monthly payment ofP 4,000.00 for 2 years. The payment will start at the end of 3 months. How much is the cash price of the dining set if the company will give 10% compounded monthly?arrow_forwardTIME VALUE OF MONEY ANALYSIS You have applied for a job with a local bank. As part of its evaluation process, you must take an examination on time value of money analysis covering the following questions: a. Draw time lines for (1) a $100 lump sum cash flow at the end of Year 2:01an ordinary annuity of $100 per year for 3 years; and (3) an uneven cas Graphical user interface, text, application $50 at the end of Years 0 through 3. b. (1) What's the future value of $ al compounding? (2) What's the prosent value of $ Description automatically generated strate is 10%, annual compounding? C. d. e. What annual interest rate would cause $100 to grow to $125.97 in 3 years? If a company's sales are growing at a rate of 20% annually, how long will it take sales to double? What's the difference between an ordinary annuity and an annuity due? What type of annuity is shown here? How would you change it to the other type of annuity? 1 0 ㅏ 2 + $100 0 3 1 $100 $100 f. (1) What is the future value of a…arrow_forward
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Recommended textbooks for you
- Century 21 Accounting Multicolumn JournalAccountingISBN:9781337679503Author:GilbertsonPublisher:Cengage
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:9781337679503
Author:Gilbertson
Publisher:Cengage