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Expert:
Neo
replied 5 years ago.
Good day!
I am ready.
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Customer:
replied 5 years ago.
1 Hour timed exam starts now
Ok here it is...
Koopman's Chickens, Inc. plans to borrow $275,000 from its bank for one year. The rate of interest is 9 percent, but a compensating balance of 20 percent is required. What is the effective rate of interest?
Answer
Less than 11.4 percent
More than 11.4 percent, but less than 11.6 percent
More than 11.6 percent, but less than 11.8 percent
More than 11.8 percent
10 points
Question 2
Sara would like to evaluate the performance of her portfolio over the past 10 years. What compound annual rate of return has she achieved if she invested $12,000 10 years ago and now has $25,000?
Answer
Between 8% and 9%
Between 10% and 11%
Between 9% and 10%
Between 7% and 8%
10 points
Question 3
Mr. Nailor invests $5,000 in a money market account at his local bank. He receives annual interest of 8% for 7 years. How much return will his investment earn during this time period?
Answer
$2,915
$3,570
$6,254
$8,570
10 points
Question 4
You are to receive $12,000 at the end of 5 years. The available yield on investments is 6%. Which table would you use to determine the value of that sum today?
Answer
Present value of an annuity of $1
Future value of an annuity
Present value of $1
Future value of $1
10 points
Question 5
Babe Ruth Jr. has agreed to play for the Cleveland Indians for $3 million per year for the next 10 years. What table would you use to calculate the value of this contract in today's dollars?
Answer
Present value of an annuity
Present value of a single amount
Future value of an annuity
None of these
10 points
Question 6
Gary Kiraly wants to buy a new Italian sports car in three years. The vehicle is expected to cost $80,000 at that time. If Gary should be so lucky as to find an investment yielding 12% over that threeyear period, how much would he have to invest now in order to accumulate $80,000 at the end of the three years?
Answer
$56,960
$59,960
$62,960
$66,960
10 points
Question 7
Pedro Gonzalez will invest $5,000 at the beginning of each year for the next 9 years. The interest rate is 8 percent. What is the future value?
Answer
$58,471
$62,440
$67,435
$72,435
10 points
Question 8
If you invest $10,000 at 10% interest, how much will you have in 10 years?
Answer
$13,860
$25,940
$3,860
$80,712
10 points
Question 9
After 10 years, 100 shares of stock originally purchased for $500 was sold for $900. What was the yield on the investment? Choose the closest answer.
Answer
19%
2.5%
8.5%
6%
10 points
Question 10
As the interest rate increases, the present value of an amount to be received at the end of a fixed period:
Answer
increases.
decreases.
remains the same.
Not enough information to tell.
Expert:
Neo
replied 5 years ago.
Got them.
Ask Your Own Homework Question
Customer:
replied 5 years ago.
It is actually a 40 minute test since it only has 10 question, thank you
Expert:
Neo
replied 5 years ago.
THIS ANSWER IS LOCKED!
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