20. Interest tables illustrate that 1. a dollar received today is worth more than a dollar to be received tomorrow 2-the present value of an annuity of $100 at 15% is worth more than an annuity of $100 at 12% 3. "discounting the future at a high rate" places emphasis on the present a, 1 and 2 b. 1 and 3 c. 2 and 3 d. 1. 2, and 3 21-which is the largest if interest rates are 10%? a. present value of S100 after five years b. present value of S100 annuity for five years c. future value of $100 annuity for five years d. future value of S100 after five years 22. which is smallest if interest rates are 10%? a. present value of $100 annuity for five years b. future value of S100 annuity for five years FNB100 Final c. present value of S100 after five years d. S100 received right now 23. The present value of an annuity due a. is less than the present value of an ordinary annuity b. is greater than the present value of an ordinary annuity c. is less than the cost of the annuity d. is greater than the cost of the annuity 24. A diversified portfolio a. increases systemic risk b. reduces systemic risk c. increases unsystemic risk d. reduces unsystemic risk 25. The risk associated with dispersion around an expected value (e-g, expected return) is measured by a. beta coefficient b. range (i.e., high-low values) c, standard deviation d. debt to total assets i.e., the debt ratio) 26. Systemic risk 1. is the tendency for a stock's return and the return on the market to move together 2. is reduced by constructing a diversified portfolio 3. depends on the firm's business and financial risk 4. is measured by beta coefficients a, 1 and 2 b. 2 and 3 c. 1 and 4 d. 2 and 4 27. A beta coefficient for a risky stock is a. 1.0 d.-ve (