Submitted by: Submitted by renae24
Views: 1548
Words: 1315
Pages: 6
Category: Literature
Date Submitted: 07/12/2011 04:35 PM
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Title: | Individual Quiz 2 |
Started: | May 30, 2008 3:42 PM |
Submitted: | May 30, 2008 4:52 PM |
Time spent: | 01:09:48 |
Total score: | 19/20 = 95% Total score adjusted by 0.0 Maximum possible score: 20 |
1. | |
| What is the future value of $9,500.00 in 8 years? Use a nominal rate (monthly compounding) of 8.25%.
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| Student Response |
A. | $18,339 |
B. | $19,273 |
C. | $19,651 |
D. | $16,991 |
E. | $19,948 |
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Score: | 1/1 |
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2. | |
| You just deposited $9,000 in an account. What is the future value in 9 years? Use a nominal rate (monthly compounding) of 8.00%.
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| Student Response |
A. | $19,623 |
B. | $18,678 |
C. | $16,833 |
D. | $18,190 |
E. | $18,445 |
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Score: | 1/1 |
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3. | |
| What is the future value of an annuity due that pays $800.00 per year for 15 years? Use an annual effective interest rate of 9.50%.
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| Student Response |
A. | $27,501 |
B. | $26,753 |
C. | $26,238 |
D. | $24,988 |
E. | $24,432 |
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Score: | 1/1 |
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4. | |
| Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.60%. What portion of the payments during the first 33 months goes toward principal?
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| Student Response |
A. | 16.65% |
B. | 14.74% |
C. | 15.59% |
D. | 15.17% |
E. | 15.64% |
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Score: | 1/1 |
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5. | |
| Consider a standard mortgage (360 months) with monthly payments and a nominal rate (monthly compounding) of 6.90%. What portion of the payments during the first 31 months goes toward interest?
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| Student Response |
A. | 86.15% |
B. | 82.91% |
C. | 80.72% |
D. | 93.71% |
E. | 90.37% |
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Score: | 1/1 |
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6. | |
| You just opened a...