Question
1.. Compute the total cost per year of the following pair of expenses. Then complete thesentence: On an annual basis, the first set of expenses
1.. Compute the total cost per year of the following pair of expenses. Then complete thesentence: On an annualbasis, the first set of expenses is_______% of the second set of expenses.
Vern buys fifteen lottery tickets each week at a cost of $2 each and spends $700 per year on his textbooks.
On an annualbasis, the money spent on lottery tickets is----- % of the money spent to buy textbooks. (Round to the nearest percent asneeded.)
2.. How much must be deposited today into the following account in order to have $60,000 in 6 years for a down payment on ahouse? Assume no additional deposits are made. An account with annual compounding and an APR of 8%
$-----should be deposited today.
(Do not round until the final answer. Then round to the nearest cent asneeded.)
3.. Compute the total and annual returns on the described investment.
Five years after buying 50 shares of XYZ stock for $80 pershare, you sell the stock for $6100.
a. The total return is ----%. (Do not round until the final answer. Then round to one decimal place asneeded.)
b.. The annual return is ---%. (Do not round until the final answer. Then round to one decimal place asneeded.)
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