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Questions and Answers of Finance

Use Table 14 - 1 or the appropriate formula or calculator application for Exercise 23 - 26 Example 6, 13, and 15. Find the future value of a quarterly annuity due of $4,400 of three years at 8%
Find the future value of an annuity due of $750 semiannually for four years at 8% annual interest compounded semiannually. What is the total investment? What is the interest?
Which annuity earns more interest: an annuity due of $300 quarterly for one year at 8% annul interest compounded quarterly, or an annuity due of $600 semiannually for one year at 8% annul interest
You have carefully examined your budget and determined that you can manage to set aside $250 per year. So you set up an annuity due of $250 annually at 7% annual interest. How much will you have
June Watson is contributing $3,000 each year to a Roth IRA. The IRA earns 3.2% per year. How much will she have at the end of 25 years? See Examples 9 and 15.
Marvin Murphy contributes $400 per month to a payroll deduction 401 (k) at work. His employer matches his contribution up to $200 per month. If the fund averages 5.4% per year, how much will be in
Dorothy Strawn has plans to invest $30,000 over five years in an annuity at 6%, and she wants the best plan. Annuity 1 is a monthly ordinary annuity of $500 compounded monthly. Annuity 2 is a
Robert Shands contributes $200 by monthly payroll deduction to a 401(k) plan at work. If he averages 3% annual interest compounded monthly, how much more should he have in 7 years if his employer
Manually find the future value of an ordinary annuity of $300 paid annually at 5% for three years. Verify your result by using the table method. See Examples 1 and 3.
Manually find the future value of an annuity due of $500 paid semiannually for two years at 6% annual interest compounded semiannually. Verify your result by using the table method. See Examples 5
Use the simple interest formula method for Exercises 9-12. See Examples 1 and 2.Find the future value of an ordinary annuity of $3,000 annually after two years at 3.8% annual interest. Find the
What semiannual sinking fund payment would be required to yield $48,000 nine years from now? The annual interest rate is 6% compounded semiannually?
Kristin Bennett, a nationally recognized philanthropist, set up an ordinary annuity of $1,600 for ten years at 9% annual interest. How much does Bennett have to deposit today to pay the stream of
Ken and Debbie Bennett have agreed to pay for their granddaughter's college education and need to know how much to set aside so annual payments of $15,000 can be made for five years at 3% annual
Janice and Terry Van Dyke have decided to establish a quarterly ordinary annuity of $3,000 for the next ten years at 8% annual interest compounded quarterly. How much should they invest in a lump sum
The Bamboo Furniture Company manufactures rattan patio furniture. It has just purchased a machine for $ 13,500 to cut and glue the pieces of wood. The machine is expected to last five years. If the
Tristin and Kim Denley are establishing a college fund for their 1-year-old daughter, Chloe. They want to save enough now to pay college tuition at the time she enters college (17 years from now). If
Kathy and Patrick Mowers have a 12-year-old daughter and are now in a financial position to begin saving for her college education. What annual sinking fund payment should they make to have her
Matthew Bennett recognizes the value of saving part of his income. He has set a goal to have $25,000 in cash available for emergencies. How much should he invest semiannually to have $25,000 in ten
Stein and Company has established a sinking fund to retire a bond issue of $500,000, which is due in ten years. How much is the quarterly sinking fund payment if the account pays 8% annual interest
Find the present value of an ordinary annuity with annual payments of $680 at 9% annual interest for 25 years?
Use Table 14 - 1 to complete the table below:
Manually find the future value and total interest of an annuity due of $1,100 deposited annually for three years at 5% interest?
Sam and Jane Crawford had a baby in 1998. At the end of that year they began putting away $2,000 a year at 10% annual interest for a college fund. How much money will be in the account when the child
A business deposits $4,500 at the end of each quarter in an account that earns 8% annual interest compounded quarterly. What is the value of the annuity in five years?
University Trailers is setting aside $800 at the beginning of every quarter to purchase a forklift in 30 months. The annual interest will be 8% compounded quarterly. How much will be available for
Tasty Food Manufacturers, Inc., has a bond issue of $1,400,000 due in 30 years. If it wants to establish a sinking fund to meet this obligation, how much must be set aside at the end of each year if
Zachary Alexander owns a limousine that will need to be replaced in four years at a cost of $65,000. How much must he put aside each year in a sinking fund at 8% annual interest to purchase the new
Randy Tolar contributes $250 each year to a Roth IRA. The IRA earns 2.45% per year. How much will he have at the end of 10 years? Use the formula or a calculator application?
Jennifer Guyton contributes $75 per month to a payroll deduction 401(k) at work. Her employer contributes $25 per month. If the fund averages 4.8% per year, how much will be in the account in 17
Use Table 14 - 2 to find the sinking fund payment:
Use Table 14 - 3 to find the amount that needs to be invested today to receive payments for the specified length of time?
Manually find the future value of an ordinary annuity of $9,000 per year for two years at 3.25% annual interest?
Maura Helba is saving for her college expenses. She sets aside $175 at the beginning of each three months in an account paying 8% annual interest compounded quarterly. How much will Maura have
Goldie's Department Store has a fleet of delivery trucks that will last for three years of heavy use and then need to be replaced at a cost of $75,000. How much must they set aside every three months
Manually find the future value of an annuity due of $2,700 per year for three years at 4.5% annual interest?
Ted Davis has set the goal of accumulating $80,000 for his son's college fund, which will be needed 18 years in the future. How much should he deposit each year in a sinking fund that earns 8% annual
What is the future value of an annuity due of $5,645 paid every six months for three years at 6% annual interest compounded semiannually? What is the interest?
Select three table values from Table 14 - 1 and verify them using the formula
Select three table values from Table 14-2 and verify them using the formulaTV = R / (1 + R)N - 1
To find the future value of an annuity due, you multiply the future value of an ordinary annuity by the sum of 1 + the period interest rate. Explain why this is the same as adding the simple
How are future value of a lump sum and future value of an annuity different?
How are the present value of a lump sum and the periodic payment of a sinking fund similar? How are they different?
Select three table values from Table 14 - 3 and verify them using the formulaTV = (1 + R)N - 1 / R(1 + R)N
Carolyn Ellis is setting up an annuity for her retirement. She can set aside $2,000 at the end of each year for the next 20 years and it will earn 6% annual interest. What lump sum will she need to
How many shares of ACE LTD. Stock were traded?
Find the P/E ratio of a corporation that reported last year's net income of $2.59 per share if the company's stock sells for $41.44 per share?
What is the S&P rating for the T.KM bond?
Calculate the current bond yield for a bond that has a close of 108.633 and a coupon of 6.800%?
Use Table 54 - 4 to find yesterday's NAV for the AAMDX mutual fund?
Find the beginning of the year NAV for the AACNX mutual fund?
Find the beginning of the year NAV for a mutual fund that has a current NAV of 15.06 and a YTD% return of 7.9?
Find the beginning of the year NAV for a mutual fund that has a current NAV of 10.76 and a YTD% return of 1.7?
Find the current price per share of the AULTX mutual fund. What was the price per share yesterday? Use Table 15 - 4
Find the sales charge and the sales charge percent for one share of the ASCPX mutual fund stock if the stock was offered at $4.94. Use Table 15 - 4. Round to the nearest hundredth of percent?
Calculate the number of shares purchased with a $5,000 investment in a no loan mutual fund with a NAV of $21.47. Round to the nearest thousandth of a share?
Calculate the return on investment for 5,000 shares of mutual fund purchased with an offer price of $32.16 if the shares where sold with a NAV of $34.72. The shares paid a dividend of $0.26 per share
Find the current yield of Oil-Dri Corp. of America (ODC) that reported a dividend of $0.60 and a closing price of $21.19?
Find the current yield of Penn Virginia Partners (PVR) that reported a dividend of $1.88 and a closing price of $21.82?
Find the P/E ratio of a corporation that reported last year's net income of $7.71 per share if the company's stock sells for $67.95 per share?
How much money will be distributed in all to common stockholder?
What is the dividend per share for the common stockholders?
Calculate the return on investment for 2,000 shares of a mutual fund purchased with an offer price of $15.83 if the shares were sold with a NAV of $18.72. The shares paid a dividend of $0.87 per
Find the return on investment for 1,800 shares of a mutual fund purchased with an offer price of $28.47 if the shares were sold with a NAV of $26.99. The shares paid a dividend of $0.12 per share
Find the sales charge and sales charge percent for one share of LPEVX mutual fund stock if the stock was offered at $6.01 per share?
Find the sales charge and sales charge percent for one share of APITX mutual fund stock if the stock was offered at $8.51 per share?
Find the beginning of year NAV for AAGSX (Table 15 - 4).
What was the annual dividend paid for one share of AT&T INC. stock?
Find the P/E ratio of Murphy Oil Corp. (MUR) that reported last year's net income of $4.34 per share if the company's stock sells for $56.47 per share?
Calculate the current yield of a C.HRY bond (Table 15 - 3)?
Calculate the current bond yield for a bond that has a close of 113.461 and a coupon of 7.875%?
Find the beginning of the year NAV for the AULTX mutual fund the Table 15 - 4
Find the beginning of the year NAV for a mutual fund that has current NAV 9.72 and a YTD% return of 2.6?
Find the beginning of the year NAV for a mutual fund that has a current NAV of 12.42 and a YTD% return of 0.9?
Find the current price per share of the MLSAX mutual fund. What was the price per share yesterday? Use Table 15 - 4?
Find the sales charge and sales charge percent for one share of the ACCNX mutual fund stock if the stock was offered at $10.66. Use Table 15 - 4. Round to the nearest hundredth of a percent?
Calculate the return on investment for 12,500 shares of a mutual fund purchased with an offer price of $16.23 if the share were sold with a NAV of $16.08. The shares paid a dividend of $0.11 per
Find the current yield of New York Community Bancorp (NYB) that reported a dividend of $1.00 and a closing price of $15.99?
Find the current yield of National Semiconductor Corp. (NSM) that reported a dividend of $0.32 and a closing price of $14.05?
Find the P/E ratio of a corporation that reported last year's net income of $4.85 per share if the company's stock sells for $33.65 per share?
What is the price per share of the LPEVX mutual fund at the beginning of the year from Table 15 - 4?
Calculate the current bond yield for a bond that has a close of 107.632 and a coupon of 6.625%?
Find the beginning of the year NAV for a mutual fund that has a current NAV of 11.15 and YTD% return of 3.8?
Find the current price per share of the ASARX mutual fund. What was the price per share yesterday? Use Table 15 - 4.
Find the sales charge and the sales charge percent for one share of the AACNX mutual fund stock if the stock was offered at $10.60275. Use Table 15 - 4. Round to the nearest hundredth of a percent?
Calculate the return on investment for 6,100 shares of a mutual fund purchased with an offer price of $18.39 if the shares were sold with a NAV of $19.01 The shares paid a dividend of $0.55 per share
To find the pervious day's price of a stock, you use the current day's price and the amount of change. When do you add and when do you subtract? Give a strategy for predicting the result that will
Using the formula P/E ratio = closing price per share/annual earnings per share Write a formula and explain your rationale for finding the annual earnings per share for the stock listing information?
How are bonds different from stocks?
How are bonds different from certificates of deposit or savings accounts?
When are premium bonds a wise investment? When are discounted bonds a wise investment?
Column 13 of Table 15-1 shows the Yield in percent form. The notes on reading stock listings indicate the yield is the previous year's dividends as a percent of the current price per share. Use this
Find the monthly payment.
Mary Starnes is paying $14,000 down on a house that costs $138,200 and she has a 6% loan for 30 years. Create a partial amortization table for the first two months of her mortgage?
Jerry Corless's monthly principal plus interest payment is $2,665.45 and his annual homeowner's insurance premium is $1,320. His annual real estate taxes total $1,325. Find his PITI payment?
Find the loan-to-value ratio for a home appraised at $135,230 that the buyer will purchase for $ 135,000. The buyer plans to make a down payment of $25,000?
Find Jerry Corless's housing ratio if his PITI is $2,885.87 and his gross monthly income is $8,310?
Find Elizabeth Herrington's debt-to-income ratio if her fixed monthly expenses are $1,236 and her gross monthly income is $4,194?
Use the formula or a calculator application to find the monthly payment on a home mortgage of $315,200 at 4.658% interest for 25 years?
Use the formula or a calculator application to find the monthly payment on a home mortgage of $327,790 at 5.402% interest for 35 years?

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