How much would $5,000 due in 10 years be worth today if the discount rate were 5.5%?
a. $2,722.25
b. $3,395.50
c. $3,102.78
d. $2,575.89
e. $2,927.15
What is the PV of an ordinary
a. $59,547.24
b. $47,637.80
c. $55,378.94
d. $57,760.83
e. $48,233.27
You want to buy a new sports car 3 years from now, and you plan to save $9,100 per year, beginning one year from today. You will deposit your savings in an account that pays 5.2% interest. How much will you have just after you make the 3rd deposit, 3 years from now?
a. $34,205.61
b. $31,331.18
c. $33,630.72
d. $28,744.21
e. $23,282.81
You plan to invest in bonds that pay 6.0%, compounded annually. If you invest $10,000 today, how many years will it take for your investment to grow to $45,000?
a. 31 years
b. 32 years
c. 30 years
d. 19 years
e. 26 years
Bob has $2,500 invested in a bank that pays 6.0% annually. How long will it take for his funds to double?
a. 12.13 years
b. 11.90 years
c. 9.75 years
d. 9.28 years
e. 10.11 years
Suppose you have $2,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 12.3 % interest, compounded annually. How much will you have when the CD matures?
a. $5,614.49
b. $7,847.52
c. $6,507.70
d. $6,380.10
e. $6,061.10
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