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Deck 11: Annuities, Stocks, and Bonds
Full screen (f)
Question
Find the amount of the annuity due rounded to the nearest cent. 
A)$3,620.51
B)$2,648.10
C)$4,641.53
D)$19,620.51
A)$3,620.51
B)$2,648.10
C)$4,641.53
D)$19,620.51
Question
Question
Solve the application problem. Round to the nearest cent. 
Charles wants to retire in 17 years. At that time he wants to be able to withdraw $22,000 at the end of each year for 17 years. Assume that money can be deposited at 10% per year compounded annually. What exact amount will Charles need in 17 years?
A)$180,431.02
B)$263,525.90
C)$172,121.62
D)$176,474.10
Charles wants to retire in 17 years. At that time he wants to be able to withdraw $22,000 at the end of each year for 17 years. Assume that money can be deposited at 10% per year compounded annually. What exact amount will Charles need in 17 years?
A)$180,431.02
B)$263,525.90
C)$172,121.62
D)$176,474.10
Question
Question
Question
Solve the problem. 
A 49-year-old man deposits a total of $2000 per year in an IRA until age 65. How much money will be in the account if the interest rate is 8% compounded semiannually with payments of $1000 made at the end of each semiannual period?
A)$62,701.47
B)$118,656.67
C)$125,402.94
D)$59,328.34
A 49-year-old man deposits a total of $2000 per year in an IRA until age 65. How much money will be in the account if the interest rate is 8% compounded semiannually with payments of $1000 made at the end of each semiannual period?
A)$62,701.47
B)$118,656.67
C)$125,402.94
D)$59,328.34
Question
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$6,700, money earns 5% compounded annually, 8 years
A)$822.89
B)$701.62
C)$727.15
D)$676.97
cent.
$6,700, money earns 5% compounded annually, 8 years
A)$822.89
B)$701.62
C)$727.15
D)$676.97
Question
Find the requested value using the given stock table. 
Sales volume for the day for CommercialAir (CMA)
A)1,771,800
B)177,180
C)17,718
D)177.18
Sales volume for the day for CommercialAir (CMA)
A)1,771,800
B)177,180
C)17,718
D)177.18
Question
Question
Find the amount of the annuity due rounded to the nearest cent. 
A)$26,965.69
B)$30,742.94
C)$49,492.94
D)$34,822.38
A)$26,965.69
B)$30,742.94
C)$49,492.94
D)$34,822.38
Question
Solve the application problem. Round to the nearest cent. 
Find the least amount that could be deposited in a bank account today at 5% compounded semiannually to allow $1875 withdrawals at the end of each 6 months for 11 years.
A)$31,435.14
B)$118,564.86
C)$30,346.03
D)$32,497.71
Find the least amount that could be deposited in a bank account today at 5% compounded semiannually to allow $1875 withdrawals at the end of each 6 months for 11 years.
A)$31,435.14
B)$118,564.86
C)$30,346.03
D)$32,497.71
Question
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$8,300, money earns 12% compounded monthly, 2 years
A)$3,915.11
B)$4,129.33
C)$654.46
D)$307.68
cent.
$8,300, money earns 12% compounded monthly, 2 years
A)$3,915.11
B)$4,129.33
C)$654.46
D)$307.68
Question
Question
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$6,400, money earns 8% compounded annually, 10 years
A)$441.79
B)$485.57
C)$512.51
D)$384.51
cent.
$6,400, money earns 8% compounded annually, 10 years
A)$441.79
B)$485.57
C)$512.51
D)$384.51
Question
Solve the application problem. Round to the nearest cent. 
Find the amount of each payment into a sinking fund if $14,000 must be accumulated. Payments are made at the end of each quarter for 3 years, with interest of 6% compounded quarterly.
A)$4,597.32
B)$1,180.06
C)$829.92
D)$1,073.52
Find the amount of each payment into a sinking fund if $14,000 must be accumulated. Payments are made at the end of each quarter for 3 years, with interest of 6% compounded quarterly.
A)$4,597.32
B)$1,180.06
C)$829.92
D)$1,073.52
Question
Question
Solve the application problem. Round to the nearest cent. 
How much should be deposited semiannually into a sinking fund over 5 years to accumulate $ 159,000 if the money earns 8% compounded semiannually?
A)$27,103.14
B)$9,544.77
C)$13,869.57
D)$13,243.11
How much should be deposited semiannually into a sinking fund over 5 years to accumulate $ 159,000 if the money earns 8% compounded semiannually?
A)$27,103.14
B)$9,544.77
C)$13,869.57
D)$13,243.11
Question
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022. 
Price to buy 50 of these bonds including a sales charge of $1 per bond
A)$53,813
B)$53,313
C)$53,323
D)$53,363
Price to buy 50 of these bonds including a sales charge of $1 per bond
A)$53,813
B)$53,313
C)$53,323
D)$53,363
Question
Find the cost for the stock purchase. Ignore any broker's fee and assume that the purchase was at the close price for the
day. Then find the annual dividend that would have been paid for the year on that number of shares.
820 shares of Meredith (MDP)
A)Cost $28,085.00; dividend $360.8
B)Cost $27,265.00; dividend $820.00
C)Cost $28,085.00; dividend $820.00
D)Cost $27,265.00; dividend $360.8
day. Then find the annual dividend that would have been paid for the year on that number of shares.
820 shares of Meredith (MDP)
A)Cost $28,085.00; dividend $360.8
B)Cost $27,265.00; dividend $820.00
C)Cost $28,085.00; dividend $820.00
D)Cost $27,265.00; dividend $360.8
Question
Find the cost for the stock purchase. Ignore any broker's fee and assume that the purchase was at the close price for the
day. Then find the annual dividend that would have been paid for the year on that number of shares.
282 shares of Coleman (CLN)
A)Cost $10,857.00; dividend $0
B)Cost $10,716.00; dividend $141.00
C)Cost $10,716.00; dividend $0
D)Cost $10,857.00; dividend $141.00
day. Then find the annual dividend that would have been paid for the year on that number of shares.
282 shares of Coleman (CLN)
A)Cost $10,857.00; dividend $0
B)Cost $10,716.00; dividend $141.00
C)Cost $10,716.00; dividend $0
D)Cost $10,857.00; dividend $141.00
Question
Find the requested value using the given stock table. 
Change from the previous day for CommSource (CSC)
A)$4.81
B)-$0.05
C)$148.20
D)$0.23
Change from the previous day for CommSource (CSC)
A)$4.81
B)-$0.05
C)$148.20
D)$0.23
Question
Find the requested value using the given stock table. 
Low for the year for ComputerSolns (CSL)
A)$39.76
B)$80.11
C)$83.23
D)$1.42
Low for the year for ComputerSolns (CSL)
A)$39.76
B)$80.11
C)$83.23
D)$1.42
Question
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$9,100, money earns 8% compounded semiannually, 5 years
A)$859.86
B)$1,551.19
C)$1,680.13
D)$757.94
cent.
$9,100, money earns 8% compounded semiannually, 5 years
A)$859.86
B)$1,551.19
C)$1,680.13
D)$757.94
Question
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022. 
Date when bonds must be paid off by Solar Energy
A)June 15, 2022
B)December 15, 2018
C)June 15, 2018
D)December 15, 2022
Date when bonds must be paid off by Solar Energy
A)June 15, 2022
B)December 15, 2018
C)June 15, 2018
D)December 15, 2022
Question
Question
Find the amount of the ordinary annuity rounded to the nearest cent. 
A)$24,689.95
B)$56,689.95
C)$30,358.94
D)$62,358.95
A)$24,689.95
B)$56,689.95
C)$30,358.94
D)$62,358.95
Question
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022. 
Last yield or yield to maturity
A)3.438%
B)5.05%
C)45.5%
D)4.55%
Last yield or yield to maturity
A)3.438%
B)5.05%
C)45.5%
D)4.55%
Question
Find the present value of the annuity. Round to the nearest cent. 
Payments of $14,000 made annually for 10 years at 10% compounded annually
A)$87,416.00
B)$94,500.00
C)$86,023.98
D)$85,400.00
Payments of $14,000 made annually for 10 years at 10% compounded annually
A)$87,416.00
B)$94,500.00
C)$86,023.98
D)$85,400.00
Question
Find the requested value using the given stock table. 
PE ratio for CommSource (CSC)
A)35
B)24
C)12
D)21
PE ratio for CommSource (CSC)
A)35
B)24
C)12
D)21
Question
Question
Find the amount of the ordinary annuity rounded to the nearest cent. 
A)$420,952.27
B)$265,824.88
C)$603,699.89
D)$449,699.87
A)$420,952.27
B)$265,824.88
C)$603,699.89
D)$449,699.87
Question
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022. 
Annual interest paid
A)$575.00
B)$5.75
C)$57.50
D)$48.00
Annual interest paid
A)$575.00
B)$5.75
C)$57.50
D)$48.00
Question
Question
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$5,100, money earns 6% compounded quarterly, 4 years
A)$941.61
B)$573.55
C)$284.43
D)$1,165.81
cent.
$5,100, money earns 6% compounded quarterly, 4 years
A)$941.61
B)$573.55
C)$284.43
D)$1,165.81
Question
Solve the application problem. Round to the nearest cent. 
How much should be deposited monthly into a sinking fund over 4 years to accumulate $119,000 if the money earns 12% compounded monthly?
A)$1,943.27
B)$2,970.24
C)$1,485.12
D)$2,341.92
How much should be deposited monthly into a sinking fund over 4 years to accumulate $119,000 if the money earns 12% compounded monthly?
A)$1,943.27
B)$2,970.24
C)$1,485.12
D)$2,341.92
Question
Solve the problem. Refer to the table if necessary. 
Susan Smith bought 60 shares of Allied Steel at $76.75 per share and 143 shares of Household Bank at $23.50 per share. Find the total amount that she paid, ignoring broker's commissions.
A)$7,629.45
B)$8,973.65
C)$7,965.50
D)$7,797.48
Susan Smith bought 60 shares of Allied Steel at $76.75 per share and 143 shares of Household Bank at $23.50 per share. Find the total amount that she paid, ignoring broker's commissions.
A)$7,629.45
B)$8,973.65
C)$7,965.50
D)$7,797.48
Question
Find the amount of the ordinary annuity rounded to the nearest cent. 
A)$100,366.92
B)$122,513.15
C)$128,850.84
D)$428,850.84
A)$100,366.92
B)$122,513.15
C)$128,850.84
D)$428,850.84
Question
Question
Find the amount of the ordinary annuity rounded to the nearest cent.
A)$498,480.52
B)$251,808.19
C)$227,386.78
D)$270,980.53
A)$498,480.52
B)$251,808.19
C)$227,386.78
D)$270,980.53
Question
Question
Solve the problem. 
Sandra deposits $3000 at the beginning of each semiannual period for 13 years at 6% interest compounded semiannually. Find the amount she will have on deposit.
A)$60,045.20
B)$106,377.79
C)$119,128.89
D)$112,659.13
Sandra deposits $3000 at the beginning of each semiannual period for 13 years at 6% interest compounded semiannually. Find the amount she will have on deposit.
A)$60,045.20
B)$106,377.79
C)$119,128.89
D)$112,659.13
Question
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$8,900, money earns 12% compounded monthly, 3 years
A)$18.33
B)$2,937.18
C)$2,637.52
D)$206.57
cent.
$8,900, money earns 12% compounded monthly, 3 years
A)$18.33
B)$2,937.18
C)$2,637.52
D)$206.57
Question
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$9,000, money earns 8% compounded quarterly, 5 years
A)$749.61
B)$1,534.14
C)$1,661.67
D)$370.44
cent.
$9,000, money earns 8% compounded quarterly, 5 years
A)$749.61
B)$1,534.14
C)$1,661.67
D)$370.44
Question
Solve the problem. 
If Bob deposits $5000 at the end of each year for 6 years in an account paying 8% interest compounded annually, find the amount he will have on deposit.
A)$44,614.02
B)$36,679.65
C)$29,333.00
D)$31,679.65
If Bob deposits $5000 at the end of each year for 6 years in an account paying 8% interest compounded annually, find the amount he will have on deposit.
A)$44,614.02
B)$36,679.65
C)$29,333.00
D)$31,679.65
Question
Question
Find the present value of the annuity. Round to the nearest cent. 
Payments of $61 made quarterly for 5 years at 8% compounded quarterly
A)$956.39
B)$494.76
C)$243.56
D)$997.44
Payments of $61 made quarterly for 5 years at 8% compounded quarterly
A)$956.39
B)$494.76
C)$243.56
D)$997.44
Question
Question
Question
Solve the application problem. Round to the nearest cent. 
Gretta wants to retire in 13 years. At that time she wants to be able to withdraw $12,500 at the end of each 6 months for 9 years. Assume that money can be deposited at 5% per year compounded semiannually. What exact amount will Gretta need in 13 years?
A)$187,236.12
B)$171,402.50
C)$179,417.00
D)$820,583.00
Gretta wants to retire in 13 years. At that time she wants to be able to withdraw $12,500 at the end of each 6 months for 9 years. Assume that money can be deposited at 5% per year compounded semiannually. What exact amount will Gretta need in 13 years?
A)$187,236.12
B)$171,402.50
C)$179,417.00
D)$820,583.00
Question
Solve the application problem. Round to the nearest cent. 
Find the least amount that could be deposited in a bank account today at 4% compounded quarterly to allow $650 withdrawals at the end of each quarter for 6 years.
A)$13,296.28
B)$13,808.20
C)$14,315.05
D)$116,191.80
Find the least amount that could be deposited in a bank account today at 4% compounded quarterly to allow $650 withdrawals at the end of each quarter for 6 years.
A)$13,296.28
B)$13,808.20
C)$14,315.05
D)$116,191.80
Question
Question
Find the amount of the ordinary annuity rounded to the nearest cent.
A)$281,532.68
B)$71,261.77
C)$292,955.69
D)$772,955.67
A)$281,532.68
B)$71,261.77
C)$292,955.69
D)$772,955.67
Question
Find the present value of the annuity. Round to the nearest cent.
Payments of $410 made annually for 13 years at 6% compounded annually
A)$3,437.36
B)$3,628.30
C)$3,629.60
D)$3,810.95
Payments of $410 made annually for 13 years at 6% compounded annually
A)$3,437.36
B)$3,628.30
C)$3,629.60
D)$3,810.95
Question
Find the present value of the annuity. Round to the nearest cent. 
Payments of $60,000 made semiannually for 12 years at 5% compounded semiannually
A)$1,134,835.80
B)$1,039,926.60
C)$1,073,099.40
D)$531,795.00
Payments of $60,000 made semiannually for 12 years at 5% compounded semiannually
A)$1,134,835.80
B)$1,039,926.60
C)$1,073,099.40
D)$531,795.00
Question
Find the requested value using the given stock table. 
High for the year for CompuStrateg (CPS)
A)$17.49
B)$15.38
C)$9.77
D)$33.57
High for the year for CompuStrateg (CPS)
A)$17.49
B)$15.38
C)$9.77
D)$33.57
Question
Solve the problem. Refer to the table if necessary. 
Sam Rush bought 121 shares of ABC Electronics at $16.50 per share and 254 shares of Wisconsin Power at $46.50 per share, and 411 shares of Peter's Manufacturing at 29 per share. Find the total amount that he paid, ignoring broker's commissions.
A)$25,729.07
B)$25,752.23
C)$25,726.50
D)$28,299.15
Sam Rush bought 121 shares of ABC Electronics at $16.50 per share and 254 shares of Wisconsin Power at $46.50 per share, and 411 shares of Peter's Manufacturing at 29 per share. Find the total amount that he paid, ignoring broker's commissions.
A)$25,729.07
B)$25,752.23
C)$25,726.50
D)$28,299.15
Question
Find the amount of the annuity due rounded to the nearest cent. 
A)$100,716.67
B)$245,415.69
C)$70,980.84
D)$85,415.69
A)$100,716.67
B)$245,415.69
C)$70,980.84
D)$85,415.69
Question
Find the requested value using the given stock table. 
Closing price for CommercialAir (CMA)
A)$12.54
B)$31.68
C)$1.28
D)$38.42
Closing price for CommercialAir (CMA)
A)$12.54
B)$31.68
C)$1.28
D)$38.42
Question
Find the requested value using the given stock table. 
Change from previous week for CommSource (CSC)
A)$0.23
B)$2.30
C)$23
D)$4.81
Change from previous week for CommSource (CSC)
A)$0.23
B)$2.30
C)$23
D)$4.81
Question
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$4,200, money earns 10% compounded semiannually, 6 years
A)$617.48
B)$544.36
C)$263.89
D)$333.90
cent.
$4,200, money earns 10% compounded semiannually, 6 years
A)$617.48
B)$544.36
C)$263.89
D)$333.90
Question
Solve the application problem. Round to the nearest cent. 
Green Thumb Landscaping wants to build a $129,000 greenhouse in 2 years. The company sets up a sinking fund with payments made quarterly. Find the payment into this fund if the money earns 8% compounded quarterly.
A)$17,351.79
B)$12,127.29
C)$63,861.45
D)$15,029.79
Green Thumb Landscaping wants to build a $129,000 greenhouse in 2 years. The company sets up a sinking fund with payments made quarterly. Find the payment into this fund if the money earns 8% compounded quarterly.
A)$17,351.79
B)$12,127.29
C)$63,861.45
D)$15,029.79
Question
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022. 
Price per bond
A)$1066.26
B)$1048.94
C)$1019.51
D)$106.63
Price per bond
A)$1066.26
B)$1048.94
C)$1019.51
D)$106.63
Question
Solve the problem. Refer to the table if necessary. 
Fred Smith bought 39 shares of Acme Steel at $38.25 per share and 119 shares of Kafka Enterprises at $74 per share. Find the total amount that he paid, ignoring broker's commissions.
A)$10,250.15
B)$10,321.55
C)$10,297.75
D)$10,226.35
Fred Smith bought 39 shares of Acme Steel at $38.25 per share and 119 shares of Kafka Enterprises at $74 per share. Find the total amount that he paid, ignoring broker's commissions.
A)$10,250.15
B)$10,321.55
C)$10,297.75
D)$10,226.35
Question
Find the amount of the annuity due rounded to the nearest cent. 
A)$43,229.78
B)$85,860.80
C)$81,677.26
D)$77,575.75
A)$43,229.78
B)$85,860.80
C)$81,677.26
D)$77,575.75
Question
Find the requested value using the given stock table. 
Dividend yield for ComputerSolns (CSL)
A)1.31%
B)0.7%
C)35.7%
D)70%
Dividend yield for ComputerSolns (CSL)
A)1.31%
B)0.7%
C)35.7%
D)70%
Question
Find the amount of the annuity due rounded to the nearest cent.
A)$114,668.57
B)$29,213.69
C)$106,673.93
D)$98,797.47
A)$114,668.57
B)$29,213.69
C)$106,673.93
D)$98,797.47
Question
Find the amount of the ordinary annuity rounded to the nearest cent. 
A)$31,034.17
B)$46,573.11
C)$28,239.78
D)$49,367.50
A)$31,034.17
B)$46,573.11
C)$28,239.78
D)$49,367.50
Question
Find the requested value using the given stock table. 
Dividend for CompuStrateg (CPS)
A)$1.31
B)$0.44
C)$0.68
D)$1.60
Dividend for CompuStrateg (CPS)
A)$1.31
B)$0.44
C)$0.68
D)$1.60
Question
Question
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022. 
Volume of bonds sold
A)30,045
B)30,590,000
C)30,045,000
D)3,004,500
Volume of bonds sold
A)30,045
B)30,590,000
C)30,045,000
D)3,004,500
Question
Find the present value of the annuity. Round to the nearest cent. 
Payments of $3,300 made annually for 25 years at 8% compounded annually
A)$32,765.70
B)$35,226.77
C)$34,744.91
D)$32,381.58
Payments of $3,300 made annually for 25 years at 8% compounded annually
A)$32,765.70
B)$35,226.77
C)$34,744.91
D)$32,381.58
Question
Solve the problem. Refer to the table if necessary. 
Greg plans to contribute $500 per year to a retirement plan and is debating the use of a certificate of deposit that pays 2% per year versus a stock fund that he believes will yield 6% per year. Find the future value after 15 years of the CD and the stock fund.
A)CD: $8,646.71
Stock fund: $11,637.99
B)CD: $8,646.71
Stock fund: $13,576.06
C)CD: $7,986.97
Stock fund: $11,637.99
D)CD: $8,341.07
Stock fund: $10,789.28
Greg plans to contribute $500 per year to a retirement plan and is debating the use of a certificate of deposit that pays 2% per year versus a stock fund that he believes will yield 6% per year. Find the future value after 15 years of the CD and the stock fund.
A)CD: $8,646.71
Stock fund: $11,637.99
B)CD: $8,646.71
Stock fund: $13,576.06
C)CD: $7,986.97
Stock fund: $11,637.99
D)CD: $8,341.07
Stock fund: $10,789.28
Question
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Deck 11: Annuities, Stocks, and Bonds
1
Find the amount of the annuity due rounded to the nearest cent.
A)$3,620.51
B)$2,648.10
C)$4,641.53
D)$19,620.51
A)$3,620.51
B)$2,648.10
C)$4,641.53
D)$19,620.51
$4,641.53
2
Solve the problem.
The manager of a retirement account purchased 128 Solar Energy (SNG)bonds that mature in 2020 for the retirement account. According to a bond table, the last price is 96.375 and the coupon rate is 7.750. Assuming a sales commission of $1 per bond, find the total purchase price of the bonds, and the annual interest payment.
A)$127,036.25, $6,646.40
B)$123,360.00, $7750.00
C)$123,488.00, $9,920.00
D)$123,232.00, $9,820.80
The manager of a retirement account purchased 128 Solar Energy (SNG)bonds that mature in 2020 for the retirement account. According to a bond table, the last price is 96.375 and the coupon rate is 7.750. Assuming a sales commission of $1 per bond, find the total purchase price of the bonds, and the annual interest payment.
A)$127,036.25, $6,646.40
B)$123,360.00, $7750.00
C)$123,488.00, $9,920.00
D)$123,232.00, $9,820.80
$123,488.00, $9,920.00
3
Solve the application problem. Round to the nearest cent.
Charles wants to retire in 17 years. At that time he wants to be able to withdraw $22,000 at the end of each year for 17 years. Assume that money can be deposited at 10% per year compounded annually. What exact amount will Charles need in 17 years?
A)$180,431.02
B)$263,525.90
C)$172,121.62
D)$176,474.10
Charles wants to retire in 17 years. At that time he wants to be able to withdraw $22,000 at the end of each year for 17 years. Assume that money can be deposited at 10% per year compounded annually. What exact amount will Charles need in 17 years?
A)$180,431.02
B)$263,525.90
C)$172,121.62
D)$176,474.10
$176,474.10
4
Find the PE ratio. Round to the nearest whole number.
Stock: Waverly
Current Price per Share: $30.50
Annual Net Earnings per Share: $0.41
A)21
B)78
C)61
D)74
Stock: Waverly
Current Price per Share: $30.50
Annual Net Earnings per Share: $0.41
A)21
B)78
C)61
D)74
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5
Find the PE ratio. Round to the nearest whole number.
Stock: Giant
Current Price per Share: $32.11
Annual Net Earnings per Share: $1.41
A)22
B)23
C)24
D)30
Stock: Giant
Current Price per Share: $32.11
Annual Net Earnings per Share: $1.41
A)22
B)23
C)24
D)30
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6
Solve the problem.
A 49-year-old man deposits a total of $2000 per year in an IRA until age 65. How much money will be in the account if the interest rate is 8% compounded semiannually with payments of $1000 made at the end of each semiannual period?
A)$62,701.47
B)$118,656.67
C)$125,402.94
D)$59,328.34
A 49-year-old man deposits a total of $2000 per year in an IRA until age 65. How much money will be in the account if the interest rate is 8% compounded semiannually with payments of $1000 made at the end of each semiannual period?
A)$62,701.47
B)$118,656.67
C)$125,402.94
D)$59,328.34
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7
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$6,700, money earns 5% compounded annually, 8 years
A)$822.89
B)$701.62
C)$727.15
D)$676.97
cent.
$6,700, money earns 5% compounded annually, 8 years
A)$822.89
B)$701.62
C)$727.15
D)$676.97
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8
Find the requested value using the given stock table.
Sales volume for the day for CommercialAir (CMA)
A)1,771,800
B)177,180
C)17,718
D)177.18
Sales volume for the day for CommercialAir (CMA)
A)1,771,800
B)177,180
C)17,718
D)177.18
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9
Find the PE ratio. Round to the nearest whole number.
Stock: Crown
Current Price per Share: $27.59
Annual Net Earnings per Share: $11.41
A)3
B)1
C)2
D)20
Stock: Crown
Current Price per Share: $27.59
Annual Net Earnings per Share: $11.41
A)3
B)1
C)2
D)20
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10
Find the amount of the annuity due rounded to the nearest cent.
A)$26,965.69
B)$30,742.94
C)$49,492.94
D)$34,822.38
A)$26,965.69
B)$30,742.94
C)$49,492.94
D)$34,822.38
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11
Solve the application problem. Round to the nearest cent.
Find the least amount that could be deposited in a bank account today at 5% compounded semiannually to allow $1875 withdrawals at the end of each 6 months for 11 years.
A)$31,435.14
B)$118,564.86
C)$30,346.03
D)$32,497.71
Find the least amount that could be deposited in a bank account today at 5% compounded semiannually to allow $1875 withdrawals at the end of each 6 months for 11 years.
A)$31,435.14
B)$118,564.86
C)$30,346.03
D)$32,497.71
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12
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$8,300, money earns 12% compounded monthly, 2 years
A)$3,915.11
B)$4,129.33
C)$654.46
D)$307.68
cent.
$8,300, money earns 12% compounded monthly, 2 years
A)$3,915.11
B)$4,129.33
C)$654.46
D)$307.68
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13
Find the cost, including a sales charge of $1 per bond, for the transaction.
Bond: TSB
Last Price: 91.125
Number Purchased: 104
A)$94,874.00
B)$91,875.00
C)$94,770.00
D)$103,896.00
Bond: TSB
Last Price: 91.125
Number Purchased: 104
A)$94,874.00
B)$91,875.00
C)$94,770.00
D)$103,896.00
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14
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$6,400, money earns 8% compounded annually, 10 years
A)$441.79
B)$485.57
C)$512.51
D)$384.51
cent.
$6,400, money earns 8% compounded annually, 10 years
A)$441.79
B)$485.57
C)$512.51
D)$384.51
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15
Solve the application problem. Round to the nearest cent.
Find the amount of each payment into a sinking fund if $14,000 must be accumulated. Payments are made at the end of each quarter for 3 years, with interest of 6% compounded quarterly.
A)$4,597.32
B)$1,180.06
C)$829.92
D)$1,073.52
Find the amount of each payment into a sinking fund if $14,000 must be accumulated. Payments are made at the end of each quarter for 3 years, with interest of 6% compounded quarterly.
A)$4,597.32
B)$1,180.06
C)$829.92
D)$1,073.52
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16
Find the current yield. Round to the nearest tenth of a percent.
You invested $6,775 in 125 shares of stock. During the following year, the company paid dividends of $2.25 per share.
A)2.4%
B)24.1%
C)4.2%
D)0.4%
You invested $6,775 in 125 shares of stock. During the following year, the company paid dividends of $2.25 per share.
A)2.4%
B)24.1%
C)4.2%
D)0.4%
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17
Solve the application problem. Round to the nearest cent.
How much should be deposited semiannually into a sinking fund over 5 years to accumulate $ 159,000 if the money earns 8% compounded semiannually?
A)$27,103.14
B)$9,544.77
C)$13,869.57
D)$13,243.11
How much should be deposited semiannually into a sinking fund over 5 years to accumulate $ 159,000 if the money earns 8% compounded semiannually?
A)$27,103.14
B)$9,544.77
C)$13,869.57
D)$13,243.11
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18
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022.
Price to buy 50 of these bonds including a sales charge of $1 per bond
A)$53,813
B)$53,313
C)$53,323
D)$53,363
Price to buy 50 of these bonds including a sales charge of $1 per bond
A)$53,813
B)$53,313
C)$53,323
D)$53,363
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19
Find the cost for the stock purchase. Ignore any broker's fee and assume that the purchase was at the close price for the
day. Then find the annual dividend that would have been paid for the year on that number of shares.
820 shares of Meredith (MDP)
A)Cost $28,085.00; dividend $360.8
B)Cost $27,265.00; dividend $820.00
C)Cost $28,085.00; dividend $820.00
D)Cost $27,265.00; dividend $360.8
day. Then find the annual dividend that would have been paid for the year on that number of shares.
820 shares of Meredith (MDP)
A)Cost $28,085.00; dividend $360.8
B)Cost $27,265.00; dividend $820.00
C)Cost $28,085.00; dividend $820.00
D)Cost $27,265.00; dividend $360.8
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20
Find the cost for the stock purchase. Ignore any broker's fee and assume that the purchase was at the close price for the
day. Then find the annual dividend that would have been paid for the year on that number of shares.
282 shares of Coleman (CLN)
A)Cost $10,857.00; dividend $0
B)Cost $10,716.00; dividend $141.00
C)Cost $10,716.00; dividend $0
D)Cost $10,857.00; dividend $141.00
day. Then find the annual dividend that would have been paid for the year on that number of shares.
282 shares of Coleman (CLN)
A)Cost $10,857.00; dividend $0
B)Cost $10,716.00; dividend $141.00
C)Cost $10,716.00; dividend $0
D)Cost $10,857.00; dividend $141.00
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21
Find the requested value using the given stock table.
Change from the previous day for CommSource (CSC)
A)$4.81
B)-$0.05
C)$148.20
D)$0.23
Change from the previous day for CommSource (CSC)
A)$4.81
B)-$0.05
C)$148.20
D)$0.23
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22
Find the requested value using the given stock table.
Low for the year for ComputerSolns (CSL)
A)$39.76
B)$80.11
C)$83.23
D)$1.42
Low for the year for ComputerSolns (CSL)
A)$39.76
B)$80.11
C)$83.23
D)$1.42
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23
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$9,100, money earns 8% compounded semiannually, 5 years
A)$859.86
B)$1,551.19
C)$1,680.13
D)$757.94
cent.
$9,100, money earns 8% compounded semiannually, 5 years
A)$859.86
B)$1,551.19
C)$1,680.13
D)$757.94
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24
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022.
Date when bonds must be paid off by Solar Energy
A)June 15, 2022
B)December 15, 2018
C)June 15, 2018
D)December 15, 2022
Date when bonds must be paid off by Solar Energy
A)June 15, 2022
B)December 15, 2018
C)June 15, 2018
D)December 15, 2022
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25
Stock prices on consecutive days for a stock are shown. Find the increase (decrease) in the price of each stock as a number
and the percent increase (decrease) rounded to the nearest tenth of a percent.
42.19, 41.31
A)-0.88; 2.1%
B)0.88; (2.1%)
C)-0.88; (2.1%)
D)0.88; 2.1%
and the percent increase (decrease) rounded to the nearest tenth of a percent.
42.19, 41.31
A)-0.88; 2.1%
B)0.88; (2.1%)
C)-0.88; (2.1%)
D)0.88; 2.1%
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26
Find the amount of the ordinary annuity rounded to the nearest cent.
A)$24,689.95
B)$56,689.95
C)$30,358.94
D)$62,358.95
A)$24,689.95
B)$56,689.95
C)$30,358.94
D)$62,358.95
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27
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022.
Last yield or yield to maturity
A)3.438%
B)5.05%
C)45.5%
D)4.55%
Last yield or yield to maturity
A)3.438%
B)5.05%
C)45.5%
D)4.55%
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28
Find the present value of the annuity. Round to the nearest cent.
Payments of $14,000 made annually for 10 years at 10% compounded annually
A)$87,416.00
B)$94,500.00
C)$86,023.98
D)$85,400.00
Payments of $14,000 made annually for 10 years at 10% compounded annually
A)$87,416.00
B)$94,500.00
C)$86,023.98
D)$85,400.00
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29
Find the requested value using the given stock table.
PE ratio for CommSource (CSC)
A)35
B)24
C)12
D)21
PE ratio for CommSource (CSC)
A)35
B)24
C)12
D)21
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30
Solve the problem.
Claire Hummell bought 2 Hecht Company (HCO)bonds maturing in 2032. According to the bond table, the last price is listed as 98.375. With a sales commission of $1 per bond, find the total purchase price.
A)$1,016.25
B)$1,967.50
C)$1,969.50
D)$1,965.50
Claire Hummell bought 2 Hecht Company (HCO)bonds maturing in 2032. According to the bond table, the last price is listed as 98.375. With a sales commission of $1 per bond, find the total purchase price.
A)$1,016.25
B)$1,967.50
C)$1,969.50
D)$1,965.50
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31
Find the amount of the ordinary annuity rounded to the nearest cent.
A)$420,952.27
B)$265,824.88
C)$603,699.89
D)$449,699.87
A)$420,952.27
B)$265,824.88
C)$603,699.89
D)$449,699.87
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32
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022.
Annual interest paid
A)$575.00
B)$5.75
C)$57.50
D)$48.00
Annual interest paid
A)$575.00
B)$5.75
C)$57.50
D)$48.00
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33
Find the cost, including a sales charge of $1 per bond, for the transaction.
Bond: PSQ Last Price: 62.750
Number Purchased: 15
A)$9,412.50
B)$14,985.00
C)$9,427.50
D)$6275.00
Bond: PSQ Last Price: 62.750
Number Purchased: 15
A)$9,412.50
B)$14,985.00
C)$9,427.50
D)$6275.00
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34
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$5,100, money earns 6% compounded quarterly, 4 years
A)$941.61
B)$573.55
C)$284.43
D)$1,165.81
cent.
$5,100, money earns 6% compounded quarterly, 4 years
A)$941.61
B)$573.55
C)$284.43
D)$1,165.81
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35
Solve the application problem. Round to the nearest cent.
How much should be deposited monthly into a sinking fund over 4 years to accumulate $119,000 if the money earns 12% compounded monthly?
A)$1,943.27
B)$2,970.24
C)$1,485.12
D)$2,341.92
How much should be deposited monthly into a sinking fund over 4 years to accumulate $119,000 if the money earns 12% compounded monthly?
A)$1,943.27
B)$2,970.24
C)$1,485.12
D)$2,341.92
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36
Solve the problem. Refer to the table if necessary.
Susan Smith bought 60 shares of Allied Steel at $76.75 per share and 143 shares of Household Bank at $23.50 per share. Find the total amount that she paid, ignoring broker's commissions.
A)$7,629.45
B)$8,973.65
C)$7,965.50
D)$7,797.48
Susan Smith bought 60 shares of Allied Steel at $76.75 per share and 143 shares of Household Bank at $23.50 per share. Find the total amount that she paid, ignoring broker's commissions.
A)$7,629.45
B)$8,973.65
C)$7,965.50
D)$7,797.48
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37
Find the amount of the ordinary annuity rounded to the nearest cent.
A)$100,366.92
B)$122,513.15
C)$128,850.84
D)$428,850.84
A)$100,366.92
B)$122,513.15
C)$128,850.84
D)$428,850.84
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38
Find the cost, including a sales charge of $1 per bond, for the transaction.
Bond: BLT
Last Price: 97.375
Number Purchased: 67
A)$66,933.00
B)$97,375.00
C)$65,241.25
D)$65,308.25
Bond: BLT
Last Price: 97.375
Number Purchased: 67
A)$66,933.00
B)$97,375.00
C)$65,241.25
D)$65,308.25
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39
Find the amount of the ordinary annuity rounded to the nearest cent.
A)$498,480.52
B)$251,808.19
C)$227,386.78
D)$270,980.53
A)$498,480.52
B)$251,808.19
C)$227,386.78
D)$270,980.53
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40
Solve the problem.
Tom O'Donnell bought 17 Public Communications (PBC)bonds maturing in 2025. According to the bond table, the last price is listed as 84.875. If the sales commission is $1 per bond, what is the total purchase price?
A)$14,445.75
B)$16,151.25
C)$14,428.75
D)$14,411.75
Tom O'Donnell bought 17 Public Communications (PBC)bonds maturing in 2025. According to the bond table, the last price is listed as 84.875. If the sales commission is $1 per bond, what is the total purchase price?
A)$14,445.75
B)$16,151.25
C)$14,428.75
D)$14,411.75
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41
Solve the problem.
Sandra deposits $3000 at the beginning of each semiannual period for 13 years at 6% interest compounded semiannually. Find the amount she will have on deposit.
A)$60,045.20
B)$106,377.79
C)$119,128.89
D)$112,659.13
Sandra deposits $3000 at the beginning of each semiannual period for 13 years at 6% interest compounded semiannually. Find the amount she will have on deposit.
A)$60,045.20
B)$106,377.79
C)$119,128.89
D)$112,659.13
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42
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$8,900, money earns 12% compounded monthly, 3 years
A)$18.33
B)$2,937.18
C)$2,637.52
D)$206.57
cent.
$8,900, money earns 12% compounded monthly, 3 years
A)$18.33
B)$2,937.18
C)$2,637.52
D)$206.57
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43
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$9,000, money earns 8% compounded quarterly, 5 years
A)$749.61
B)$1,534.14
C)$1,661.67
D)$370.44
cent.
$9,000, money earns 8% compounded quarterly, 5 years
A)$749.61
B)$1,534.14
C)$1,661.67
D)$370.44
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44
Solve the problem.
If Bob deposits $5000 at the end of each year for 6 years in an account paying 8% interest compounded annually, find the amount he will have on deposit.
A)$44,614.02
B)$36,679.65
C)$29,333.00
D)$31,679.65
If Bob deposits $5000 at the end of each year for 6 years in an account paying 8% interest compounded annually, find the amount he will have on deposit.
A)$44,614.02
B)$36,679.65
C)$29,333.00
D)$31,679.65
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45
Solve the problem.
Joe Simpson bought 37 Woodward Corp. (WDW)bonds maturing 2010. According to a bond table, the last price is 87.250 and the coupon rate is 10.250. Assuming a sales commission of $1 per bond, find the effective interest rate using total cost including commissions.
A)6.4%
B)7.0%
C)11.7%
D)11.6%
Joe Simpson bought 37 Woodward Corp. (WDW)bonds maturing 2010. According to a bond table, the last price is 87.250 and the coupon rate is 10.250. Assuming a sales commission of $1 per bond, find the effective interest rate using total cost including commissions.
A)6.4%
B)7.0%
C)11.7%
D)11.6%
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46
Find the present value of the annuity. Round to the nearest cent.
Payments of $61 made quarterly for 5 years at 8% compounded quarterly
A)$956.39
B)$494.76
C)$243.56
D)$997.44
Payments of $61 made quarterly for 5 years at 8% compounded quarterly
A)$956.39
B)$494.76
C)$243.56
D)$997.44
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47
Find the PE ratio. Round to the nearest whole number.
Stock: BG + E
Current Price per Share: $32
Annual Net Earnings per Share: $0.27
A)200
B)100
C)1
D)119
Stock: BG + E
Current Price per Share: $32
Annual Net Earnings per Share: $0.27
A)200
B)100
C)1
D)119
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48
Find the cost, including a sales charge of $1 per bond, for the transaction.
Bond: FPC
Last Price: 82.125
Number Purchased: 10
A)$9,990.00
B)$82,125.00
C)$8,212.50
D)$8,222.50
Bond: FPC
Last Price: 82.125
Number Purchased: 10
A)$9,990.00
B)$82,125.00
C)$8,212.50
D)$8,222.50
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49
Solve the application problem. Round to the nearest cent.
Gretta wants to retire in 13 years. At that time she wants to be able to withdraw $12,500 at the end of each 6 months for 9 years. Assume that money can be deposited at 5% per year compounded semiannually. What exact amount will Gretta need in 13 years?
A)$187,236.12
B)$171,402.50
C)$179,417.00
D)$820,583.00
Gretta wants to retire in 13 years. At that time she wants to be able to withdraw $12,500 at the end of each 6 months for 9 years. Assume that money can be deposited at 5% per year compounded semiannually. What exact amount will Gretta need in 13 years?
A)$187,236.12
B)$171,402.50
C)$179,417.00
D)$820,583.00
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50
Solve the application problem. Round to the nearest cent.
Find the least amount that could be deposited in a bank account today at 4% compounded quarterly to allow $650 withdrawals at the end of each quarter for 6 years.
A)$13,296.28
B)$13,808.20
C)$14,315.05
D)$116,191.80
Find the least amount that could be deposited in a bank account today at 4% compounded quarterly to allow $650 withdrawals at the end of each quarter for 6 years.
A)$13,296.28
B)$13,808.20
C)$14,315.05
D)$116,191.80
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51
Find the cost, including a sales charge of $1 per bond, for the transaction.
Bond: WSN
Last Price: 101.500
Number Purchased: 12
A)$10,150.00
B)$12,180.00
C)$11,988.00
D)$12,192.00
Bond: WSN
Last Price: 101.500
Number Purchased: 12
A)$10,150.00
B)$12,180.00
C)$11,988.00
D)$12,192.00
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52
Find the amount of the ordinary annuity rounded to the nearest cent.
A)$281,532.68
B)$71,261.77
C)$292,955.69
D)$772,955.67
A)$281,532.68
B)$71,261.77
C)$292,955.69
D)$772,955.67
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53
Find the present value of the annuity. Round to the nearest cent.
Payments of $410 made annually for 13 years at 6% compounded annually
A)$3,437.36
B)$3,628.30
C)$3,629.60
D)$3,810.95
Payments of $410 made annually for 13 years at 6% compounded annually
A)$3,437.36
B)$3,628.30
C)$3,629.60
D)$3,810.95
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54
Find the present value of the annuity. Round to the nearest cent.
Payments of $60,000 made semiannually for 12 years at 5% compounded semiannually
A)$1,134,835.80
B)$1,039,926.60
C)$1,073,099.40
D)$531,795.00
Payments of $60,000 made semiannually for 12 years at 5% compounded semiannually
A)$1,134,835.80
B)$1,039,926.60
C)$1,073,099.40
D)$531,795.00
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55
Find the requested value using the given stock table.
High for the year for CompuStrateg (CPS)
A)$17.49
B)$15.38
C)$9.77
D)$33.57
High for the year for CompuStrateg (CPS)
A)$17.49
B)$15.38
C)$9.77
D)$33.57
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56
Solve the problem. Refer to the table if necessary.
Sam Rush bought 121 shares of ABC Electronics at $16.50 per share and 254 shares of Wisconsin Power at $46.50 per share, and 411 shares of Peter's Manufacturing at 29 per share. Find the total amount that he paid, ignoring broker's commissions.
A)$25,729.07
B)$25,752.23
C)$25,726.50
D)$28,299.15
Sam Rush bought 121 shares of ABC Electronics at $16.50 per share and 254 shares of Wisconsin Power at $46.50 per share, and 411 shares of Peter's Manufacturing at 29 per share. Find the total amount that he paid, ignoring broker's commissions.
A)$25,729.07
B)$25,752.23
C)$25,726.50
D)$28,299.15
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57
Find the amount of the annuity due rounded to the nearest cent.
A)$100,716.67
B)$245,415.69
C)$70,980.84
D)$85,415.69
A)$100,716.67
B)$245,415.69
C)$70,980.84
D)$85,415.69
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58
Find the requested value using the given stock table.
Closing price for CommercialAir (CMA)
A)$12.54
B)$31.68
C)$1.28
D)$38.42
Closing price for CommercialAir (CMA)
A)$12.54
B)$31.68
C)$1.28
D)$38.42
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59
Find the requested value using the given stock table.
Change from previous week for CommSource (CSC)
A)$0.23
B)$2.30
C)$23
D)$4.81
Change from previous week for CommSource (CSC)
A)$0.23
B)$2.30
C)$23
D)$4.81
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60
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
$4,200, money earns 10% compounded semiannually, 6 years
A)$617.48
B)$544.36
C)$263.89
D)$333.90
cent.
$4,200, money earns 10% compounded semiannually, 6 years
A)$617.48
B)$544.36
C)$263.89
D)$333.90
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61
Solve the application problem. Round to the nearest cent.
Green Thumb Landscaping wants to build a $129,000 greenhouse in 2 years. The company sets up a sinking fund with payments made quarterly. Find the payment into this fund if the money earns 8% compounded quarterly.
A)$17,351.79
B)$12,127.29
C)$63,861.45
D)$15,029.79
Green Thumb Landscaping wants to build a $129,000 greenhouse in 2 years. The company sets up a sinking fund with payments made quarterly. Find the payment into this fund if the money earns 8% compounded quarterly.
A)$17,351.79
B)$12,127.29
C)$63,861.45
D)$15,029.79
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62
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022.
Price per bond
A)$1066.26
B)$1048.94
C)$1019.51
D)$106.63
Price per bond
A)$1066.26
B)$1048.94
C)$1019.51
D)$106.63
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63
Solve the problem. Refer to the table if necessary.
Fred Smith bought 39 shares of Acme Steel at $38.25 per share and 119 shares of Kafka Enterprises at $74 per share. Find the total amount that he paid, ignoring broker's commissions.
A)$10,250.15
B)$10,321.55
C)$10,297.75
D)$10,226.35
Fred Smith bought 39 shares of Acme Steel at $38.25 per share and 119 shares of Kafka Enterprises at $74 per share. Find the total amount that he paid, ignoring broker's commissions.
A)$10,250.15
B)$10,321.55
C)$10,297.75
D)$10,226.35
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64
Find the amount of the annuity due rounded to the nearest cent.
A)$43,229.78
B)$85,860.80
C)$81,677.26
D)$77,575.75
A)$43,229.78
B)$85,860.80
C)$81,677.26
D)$77,575.75
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65
Find the requested value using the given stock table.
Dividend yield for ComputerSolns (CSL)
A)1.31%
B)0.7%
C)35.7%
D)70%
Dividend yield for ComputerSolns (CSL)
A)1.31%
B)0.7%
C)35.7%
D)70%
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66
Find the amount of the annuity due rounded to the nearest cent.
A)$114,668.57
B)$29,213.69
C)$106,673.93
D)$98,797.47
A)$114,668.57
B)$29,213.69
C)$106,673.93
D)$98,797.47
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67
Find the amount of the ordinary annuity rounded to the nearest cent.
A)$31,034.17
B)$46,573.11
C)$28,239.78
D)$49,367.50
A)$31,034.17
B)$46,573.11
C)$28,239.78
D)$49,367.50
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68
Find the requested value using the given stock table.
Dividend for CompuStrateg (CPS)
A)$1.31
B)$0.44
C)$0.68
D)$1.60
Dividend for CompuStrateg (CPS)
A)$1.31
B)$0.44
C)$0.68
D)$1.60
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69
Find the PE ratio. Round to the nearest whole number.
Stock: Hechinger
Current Price per Share: $16.68
Annual Net Earnings per Share: $1.20
A)14
B)12
C)15
D)16
Stock: Hechinger
Current Price per Share: $16.68
Annual Net Earnings per Share: $1.20
A)14
B)12
C)15
D)16
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70
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022.
Volume of bonds sold
A)30,045
B)30,590,000
C)30,045,000
D)3,004,500
Volume of bonds sold
A)30,045
B)30,590,000
C)30,045,000
D)3,004,500
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71
Find the present value of the annuity. Round to the nearest cent.
Payments of $3,300 made annually for 25 years at 8% compounded annually
A)$32,765.70
B)$35,226.77
C)$34,744.91
D)$32,381.58
Payments of $3,300 made annually for 25 years at 8% compounded annually
A)$32,765.70
B)$35,226.77
C)$34,744.91
D)$32,381.58
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72
Solve the problem. Refer to the table if necessary.
Greg plans to contribute $500 per year to a retirement plan and is debating the use of a certificate of deposit that pays 2% per year versus a stock fund that he believes will yield 6% per year. Find the future value after 15 years of the CD and the stock fund.
A)CD: $8,646.71
Stock fund: $11,637.99
B)CD: $8,646.71
Stock fund: $13,576.06
C)CD: $7,986.97
Stock fund: $11,637.99
D)CD: $8,341.07
Stock fund: $10,789.28
Greg plans to contribute $500 per year to a retirement plan and is debating the use of a certificate of deposit that pays 2% per year versus a stock fund that he believes will yield 6% per year. Find the future value after 15 years of the CD and the stock fund.
A)CD: $8,646.71
Stock fund: $11,637.99
B)CD: $8,646.71
Stock fund: $13,576.06
C)CD: $7,986.97
Stock fund: $11,637.99
D)CD: $8,341.07
Stock fund: $10,789.28
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73
Stock prices on consecutive days for a stock are shown. Find the increase (decrease) in the price of each stock as a number
and the percent increase (decrease) rounded to the nearest tenth of a percent.
36.45, 37.21
A)-0.76; (2.1%)
B)-0.76; 2.1%
C)0.76; 2.1%
D)0.76; (2.1%)
and the percent increase (decrease) rounded to the nearest tenth of a percent.
36.45, 37.21
A)-0.76; (2.1%)
B)-0.76; 2.1%
C)0.76; 2.1%
D)0.76; (2.1%)
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Unlock Deck
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