Question 1

Bill and Ellen Sweatt plan to invest $2,500 a year in an educational IRA for their granddaughter, Sloane Martin. They will make these deposits on January 2nd of each year. Bill and Ellen feel they can safely earn 8%. How much will be in this account on December 31 of the 18th year?

Accepted Answer

$2500 × 37...

Question 2

Rob Honda plans to buy a home and can deposit $15,000 for the purchase today. If the annual interest rate is 8%, how much can Rob expect to have for a down payment in 5 years?

Accepted Answer

$15000 × 1...

Question 3

Payments or receipts of equal dollar amounts are referred to as __________________.

Accepted Answer

The answer of Payments or receipts of equal dollar amounts...

Question 4

The future value of a single amount is the value at a future date of a given amount invested now, assuming compound interest.

Accepted Answer

A) True 
 B)False

Question 5

With a financial calculator, one can solve for any interest rate or for any number of periods in a time value of money problem.

Accepted Answer

A) True 
 B)False

Question 6

If you are able to earn a 15% rate of return, what amount would you need to invest to have $15,000 one year from now?

Accepted Answer

A)   $14,852
B)   $13,125
C)   $12,750
D)   $13,044E) B) and C)
F) A) and C)

Exam 14: Specimen Financial Statements: Apple Inc

If you are able to earn a 15% rate of return, what amount would you need to invest to have $15,000 one year from now?

Correct Answer
verified

With a financial calculator, one can solve for any interest rate or for any number of periods in a time value of money problem.

Correct Answer
verified

Payments or receipts of equal dollar amounts are referred to as __________________.

Correct Answer
verified

Rob Honda plans to buy a home and can deposit $15,000 for the purchase today. If the annual interest rate is 8%, how much can Rob expect to have for a down payment in 5 years?

Correct Answer
verified
$15000 × 1...
View Answer

The future value of a single amount is the value at a future date of a given amount invested now, assuming compound interest.

Correct Answer
verified

Bill and Ellen Sweatt plan to invest $2,500 a year in an educational IRA for their granddaughter, Sloane Martin. They will make these deposits on January 2^nd of each year. Bill and Ellen feel they can safely earn 8%. How much will be in this account on December 31 of the 18^th year?

Correct Answer
verified
$2500 × 37...
View Answer

Exam 14: Specimen Financial Statements: Apple Inc

If you are able to earn a 15% rate of return, what amount would you need to invest to have $15,000 one year from now?

Correct AnswerverifiedShow Answer

With a financial calculator, one can solve for any interest rate or for any number of periods in a time value of money problem.

Correct AnswerverifiedShow Answer

Payments or receipts of equal dollar amounts are referred to as __________________.

Correct AnswerverifiedShow Answer

Rob Honda plans to buy a home and can deposit $15,000 for the purchase today. If the annual interest rate is 8%, how much can Rob expect to have for a down payment in 5 years?

Correct Answerverified$15000 × 1...View AnswerShow Answer

The future value of a single amount is the value at a future date of a given amount invested now, assuming compound interest.

Correct AnswerverifiedShow Answer

Bill and Ellen Sweatt plan to invest $2,500 a year in an educational IRA for their granddaughter, Sloane Martin. They will make these deposits on January 2nd of each year. Bill and Ellen feel they can safely earn 8%. How much will be in this account on December 31 of the 18th year?

Correct Answerverified$2500 × 37...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
$15000 × 1...
View Answer

Correct Answer
verified

Bill and Ellen Sweatt plan to invest $2,500 a year in an educational IRA for their granddaughter, Sloane Martin. They will make these deposits on January 2^nd of each year. Bill and Ellen feel they can safely earn 8%. How much will be in this account on December 31 of the 18^th year?

Correct Answer
verified
$2500 × 37...
View Answer