Question 1 (1 point)

What would be the yearly earnings for a person with $14900 in savings at an annual interest rate of 12.2% percent?

(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)

Your Answer:

Question 1 options:

Answer

Save

Question 2 (1 point)

What is the future value of $4980 7 years from now at 6 percent?

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)

Your Answer:

Question 2 options:

Answer

Save

Question 3 (1 point)

What is the future value of $2550 saved each year for 6 years at 9 percent?

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)

Your Answer:

Question 3 options:

Answer

Save

Question 4 (1 point)

What is the amount a person would have to deposit today (present value) at 7 percent interest rate to have $4750 saved 11 years from now.

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)

Your Answer:

Question 4 options:

Answer

Save

Question 5 (1 point)

What is the amount you would have to deposit today to be able to take out $2080 a year for 6 years from an account earning 4 percent.

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)

Your Answer:

Question 5 options:

Answer

Save

Question 6 (1 point)

If you desire to have $39000 for a down payment for a house in 9 years, what amount would you need to deposit today? Assume that your money will earn 6 percent.

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)

Your Answer:

Question 6 options:

Answer

Save

Question 7 (1 point)

Pete Morton is planning to go to graduate school in a program of study that will take 3 years. Pete wants to have $17700 available each year for various school and living expenses. If he earns 5 percent on his money, how much must be deposit at the start of his studies to be able to withdraw $17700 a year for 3 years?

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)

Your Answer:

Question 7 options:

Answer

Save

Question 8 (1 point)

Carla Lopez deposits $10830 a year into her retirement account. If these funds have an average earning of 3 percent over the 13 years until her retirement, what will be the value of her retirement account?

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)

Your Answer:

Question 8 options:

Answer

Save

Question 9 (1 point)

If a person spends $17 a week on coffee (52 weeks in a year), what would be the future value of that amount over 10 years if the funds were deposited in an account earning 9 percent?

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

(Round your answer to the nearest whole number. Do not include the comma, period, and "$" sign in your response.)

Your Answer:

Question 9 options:

Answer

Save

Chapter 1 LO 1.3

Question 10 (1 point)

Question 10 options:

A financial company that advertises on television will pay you $55,000 now for annual payments of $10,000 that you are expected to receive for a legal settlement over the next 9 years. Assume you estimate the time value of money at 9 percent.

Use the appropriate time value of money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D].

(a) What is the present value?

(Round your answer to the nearest whole number. Omit the comma, period, and "$" sign in your response.)

(b) Would you accept this offer?

[Enter "Yes" or "No"]