# Finance

#### Question 1(1 point)

What would be the yearly earnings for a person with \$14700 in savings at an annual interest rate of 16.6% percent?

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#### Question 2(1 point)

What is the future value of \$3330 8 years from now at 7 percent?

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

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#### Question 3(1 point)

What is the future value of \$3425 saved each year for 14 years at 2 percent?

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

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#### Question 4(1 point)

What is the amount a person would have to deposit today (present value) at 8 percent interest rate to have \$11200 saved 7 years from now.

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

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#### Question 5(1 point)

What is the amount you would have to deposit today to be able to take out \$3000 a year for 8 years from an account earning 14 percent.

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

Question 5 options:

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#### Question 6(1 point)

If you desire to have \$49400 for a down payment for a house in 10 years, what amount would you need to deposit today? Assume that your money will earn 5 percent.

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

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#### Question 7(1 point)

Pete Morton is planning to go to graduate school in a program of study that will take 4 years. Pete wants to have \$17500available 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 \$17500 a year for 4 years?

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

Question 7 options:

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#### Question 8(1 point)

Carla Lopez deposits \$9900 a year into her retirement account. If these funds have an average earning of 8 percent over the 8 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]

Question 8 options:

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#### Question 9(1 point)

If a person spends \$25 a week on coffee (52 weeks in a year), what would be the future value of that amount over 9 years if the funds were deposited in an account earning 5 percent?

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

Question 9 options:

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#### Question 10(1 point)

Question 10 options:

A financial company that advertises on television will pay you \$64,000 now for annual payments of \$9,100 that you are expected to receive for a legal settlement over the next 8 years. Assume you estimate the time value of money at 11 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?