What is the future value of $10,000 on deposit for 2 years at 6% simple interest?

Multiple Choice

• $10,600

• $11,236

• $11,200

• $13,382.26

What will be the monthly payment on a $75,000 30-year home mortgage at 1% interest per month?

Multiple Choice

• $771.46

• $775.90

Your real estate agent mentions that homes in your price range require a payment of $1,200 per month for 30 years at 0.75% interest per month. What is the size of the mortgage with these terms?

Multiple Choice

• $128,035.05

• $147,940.29

• $149,138.24

• $393,120.03

The present value of a perpetuity can be determined by:

Multiple Choice

• multiplying the payment by the interest rate.

• dividing the interest rate by the payment.

• multiplying the payment by the number of payments to be made.

• dividing the payment by the interest rate.

• $1,028.61

• $1,034.53