Basic Personal Finance Questions
Check before you submit. Get Turnitin Score Report in 15 Minutes.
Don't risk the 'Red' score. Get the exact same Turnitin report your professor uses. Join 50,000+ students who submitted their essays with confidence this semester.
Question 1 (1 point)
What would be the yearly earnings for a person with $6200 in savings at an annual interest rate of 24.0% percent?
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Question 2 (1 point)
What is the future value of $3130 10 years from now at 2 percent?
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Question 3 (1 point)
What is the future value of $1950 saved each year for 7 years at 10 percent?
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Question 4 (1 point)
What is the amount a person would have to deposit today (present value) at 5 percent interest rate to have $10650 saved 16 years from now.
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Question 5 (1 point)
What is the amount you would have to deposit today to be able to take out $4500 a year for 16 years from an account earning 3 percent.
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Question 6 (1 point)
If you desire to have $40900 for a down payment for a house in 10 years, what amount would you need to deposit today? Assume that your money will earn 6 percent.
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Question 7 (1 point)
Pete Morton is planning to go to graduate school in a program of study that will take 2 years. Pete wants to have $21900 available 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 $21900 a year for 2 years?
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Question 8 (1 point)
Carla Lopez deposits $6980 a year into her retirement account. If these funds have an average earning of 3 percent over the 15 years until her retirement, what will be the value of her retirement account?
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Question 9 (1 point)
If a person spends $22 a week on coffee (52 weeks in a year), what would be the future value of that amount over 15years if the funds were deposited in an account earning 6 percent?
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Chapter 1 LO 1.3
Question 10 (1 point)
SaveSaveSaveSaveSaveSaveSaveSaveSave
A financial company that advertises on television will pay you $61,000 now for annual payments of $9,400 that you are expected to receive for a legal settlement over the next 11 years. Assume you estimate the time value of money at 12 percent.
Use the appropriate time value of money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D].
(a) What is the present value?
(Round your answer to the nearest whole number. Omit the comma, period, and “$” sign in your response.)
Basic Personal Finance Questions Essay
DO MY HOMEWORK NOW!Write my Essay. Premium essay writing services is the ideal place for homework help or essay writing service. if you are looking for affordable, high quality & non-plagiarized papers, click on the button below to place your order. Provide us with the instructions and one of our writers will deliver a unique, no plagiarism, and professional paper.
Get help with your toughest assignments and get them solved by a Reliable Custom Papers Writing Company. Save time, money and get quality papers. Buying an excellent plagiarism-free paper is a piece of cake!
All our papers are written from scratch. We can cover any assignment/essay in your field of study.
