Quiz 3

.pdf

School

Indiana Institute of Technology *

*We aren’t endorsed by this school

Course

3600

Subject

Finance

Date

Feb 20, 2024

Type

pdf

Pages

3

Uploaded by BarristerLightningElk17

12/15/23, 4:30 PM Review Test Submission: Module 3 Quiz 2023_... TECH n . os T —— 2023_Fall_FIN3600EOL41 Corporate Finance - 41 Module Three Module 3 Activities and Assessments Review Test Submission: Module 3 Quiz Review Test Submission: Module 3 Quiz User Course Corporate Finance - 41 Test Module 3 Quiz Started 12/15/23 4:13 PM Submitted 12/15/23 4:30 PM Due Date 12/17/23 11:59 PM Status Completed Attempt Score 10 out of 10 points Time Elapsed 16 minutes out of 1 hour Results Displayed Submitted Answers, Correct Answers, Incorrectly Answered Questions Question 1 1 out of 1 points 7.7 In solving for the future value of a lump sum, if the interest rate increases, Selected Answer: V) the future value increases. Correct Answer: V) the future value increases. Question 2 1 out of 1 points You want to purchase a home in five years and will need a down payment of $20,000 at that time. If you can earn 6% on your money, how much will you need to deposit today to have $20,000? The term for calculating this type of problem is called: Selected Answer: V) Discounting Correct Answer: V) Discounting Question 3 1 out of 1 points https://blackboard.indianatech.edu/webapps/assessment/review/review.jsp?attempt_id=_4415325_1&course_id=_422729_1&content_id=_3528008_1... 173
12/15/23, 4:30 PM Review Test Submission: Module 3 Quiz 2023_... | In the time value of money, a dollar today is worth more than a dollar received next year. What makes this statement true? Selected Answer: & Interest Correct Answer: @ Interest Question 4 1 out of 1 points | You have $5,000 in an account that is earning 2% interest. You want to know what your account balance will be in five years. The term for calculating this type of problem is called: Selected Answer: @ Compounding Correct Answer: @ Compounding Question 5 1 out of 1 points Which example would require solving for the future value of an ordinary annuity? Selected [v] Answer: You want to know the value of $100 deposits made at the end of each month for six years. Correct [V] Answer: You want to know the value of $100 deposits made at the end of each month for six years. Question 6 1 out of 1 points . | You want to purchase a home in five years and will need a down payment of $20,000 at that time. If you can earn 6% on your money, how much will you need to deposit today to have $20,0007 This is an example: Selected Answer: V) Discounting Correct Answer: @ Discounting Question 7 1 out of 1 points | You have $5,000 in an account that is earning 2% interest. You want to know what l_u your account balance will be in five years. This is an example of solving for: Selected Answer: V) Future value Correct Answer: @ Future value https://blackboard.indianatech.edu/webapps/assessment/review/review.jsp?attempt_id=_4415325_18&course_id=_422729_1&content_id=_3528008_1... 2/3
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
  • Access to all documents
  • Unlimited textbook solutions
  • 24/7 expert homework help