1. What is the present value of $1000 to be received ten years from today, assuming an interest rate of nine percent per annum?

Select one:

a. $422.

b. $470.

c. $488.

d. $402.

2. Cash inflows from wages tend to be the highest in which of the following?

Select one:

a. Early earning stage

b. Retirement

c. Prime earning stage

d. First career stage

3. How long will it take Ivy's money to triple in value at 12 percent compounded quarterly?

Select one:

a. It depends on the amount

b. 9.2 years

c. 9.7 years

d. 9.3 years

4. All of the following are types of taxable income except

Select one:

a. the use of a company car.

b. life insurance benefits.

c. government benefits.

d. rental income.

5. If you borrow $20,000 as a five-year loan from the bank and the bank requires you to make end-of-year payments of $4878.05, what is the annual interest rate on this loan?

Select one:

a. 7 percent

b. 6 percent