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You received $5,000 when your turned 12, which you invested at 4% interest, compounded annually. Your investment is now worth $15,000. How old are you today? Select one: a. age 42 O b. age 35 O c. age 32 d. age 40
The greater the number of years, the: Select one: O a. Smaller the compounding effect. O b. Smaller the future value of a single sum. O c. Smaller the present value of a single sum O d. Larger the present value factor
Samir would like to give his daughter Sarah $75,000 towards her college education 10 years from now. How much money must he set aside today for this purpose if he can earn 3% on his investments? Select one: O a. $13,726.90 b. $12,989.47 O c. $55,807.04 O d. $48,101.71
You plan to purchase your dream house 3 years from now. Today, 3 your dream house costs $950,000. You expect housing prices to rise by an average of 5% per year over the next 3 years. How much will your dream house cost by the time you are ready to buy it? Select one: : O a. $1,294,882.01 O b. $1,099,743.75 c. $1,292,063.48 d. $1,127,357.00
You invest $3,000 in an account paying 2% simple interest. You do not add nor withdraw any funds from this account. Every year, your account balance will: Select one: O a. Increase at a constant rate. O b. Increase at an increasing rate. O c. Remain constant. O d. Increase by a constant amount.
Your credit card company quotes you a rate of 19.9%. Interest is billed monthly. What is the actual rate of interest you are paying? Select one: O a. 20.63% O b. 21.82% O c. 19.97% O d. 19.48%
A zero-coupon bond: Select one: O a. Has a price equal to the future value of the face amount given a specified rate of return. O b. Is initially sold at a deep discount. O c. Has less interest rate risk than a comparable coupon bond. d. Can only be issued by the Government.
The ZTR Company bonds are currently selling for $1,041.30. These bonds mature in seven years, pay semi-annual interest and have a yield to maturity of 6.75%. What is the coupon rate? Select one: O a. 7.50% O b. 6.50% O c. 8.00% O d. 8.25%
A bond was issued with a 15-year maturity, a $1000 Face Value, 5% coupon rate paid semi-annually, and a 6% YTM. What is the price of the bond now? Select one: O a. $916.32 O b. $962.31 c. $940.25 d. $902.00