17.Which of the following is a source of cash flows?

increase in marketable securities

increase in accounts payable

decrease in notes payable

repurchase of stock

18.

If you expect to retire in 30 years, live on $50,000 per year and expect the inflation to average 3% over the next 30 years, what amount of annual income will you need to live at the same comfort level in 30 years?

$51,500

$95,000

$20,599

$121,363

19.

Time-series analysis is often used to ________.

evaluate the value of a firm or its assets

assess developing trends

standardize results

correct errors of judgment

20.

The present value of an ordinary annuity of $2,350 each year for eight years, assuming an opportunity cost of 11 percent, is ________.

$18,800

$27,869

$12,093

$ 1,020