Question 11 pts

You own a pet wholesale business. You sell fish. You would like to have a population of 300,000 neon tetra fish to sell to your retailers. If cared for well, neon tetras reproduce quickly. You estimate that your fish population can grow at a rate of 300% per year. Your goal is to have the 300,000 fish at the end of five years. How many fish do you need to start with, in order to reach your goal? (Round your answer to the nearest whole fish.)

Group of answer choices

100

187

293

366

Flag question: Question 2Question 21 pts

You have a home loan for $200,000. The annual interest is 5.5% and the number of payments (monthly payments) is 360. How much total interest do you pay over the life of the loan?

Group of answer choices

$105,505

$156,606

$208,808

$309,909

Flag question: Question 3Question 31 pts

You invest $6,000 per year for 20 years. Earning an 8% annual return, how much money do you have at the end of the 20 years?

Group of answer choices

$437,625

$324,545

$122,688

$274,572

Flag question: Question 4Question 41 pts

What is the present value (PV) of a series of payments of $600 per month for 12 years, discounted at a rate of 8% (annual)?

Group of answer choices

$55,429.68

$144,305.03

$86,400.00

$31,092.84

Flag question: Question 5Question 51 pts

Cindy is planning to invest $1,000 per month. Her goal is to have $1,000,000. She will earn 10.0% on her investments. How many months will it take her to reach her goal?

Group of answer choices

269.15 months

360 months

422.50 months

156.40 months

Flag question: Question 6Question 61 pts

You decide to invest $20,000 today in your favorite video game company stock. The stock is expected to grow at a rate of 10% per year for 20 years. When you sell the stock in 20 years, how much will it be worth in terms of today's spending power (assume a 4% rate of inflation)? (You want to know how many rib-eye steaks you will be able to buy in 20 years when you sell the stock.)

Group of answer choices

$73,590

$20,000

$161,246

$61,407

Flag question: Question 7Question 71 pts

If sales remain constant and COGS decreases, what is the likely result?

Group of answer choices

SG&A decreases

Gross margin increases

Gross margin decreases

Non-operating expenses increases

Flag question: Question 8Question 81 pts

If you invest $500 per month for 36 years at 10.50% (annual), what is the future value (FV)?

Group of answer choices

$2,405,801.33

$2,022,572.79

$216,000.00

$1,672,351.00

Flag question: Question 9Question 91 pts

Your company's profit margin is up. What is a possible cause of this?

Group of answer choices

COGS has increased.

Sales have decreased.

SG&A expenses have increased.

You have decreased your interest expense.

Flag question: Question 10Question 101 pts

What is the present value (PV) of a series of payments of $3,000 per year for 18 years, discounted at a rate of 6% (annual)?

Group of answer choices

$32,482.81

$92,716.96

$54,000.00

$6,000.00