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Name: Q1 MATH1107 Test 3 Version 2 St No. Q4 Calculate the accumulated value after ten years of payments of $1000.00 made at the end of each quarter if interest is 8% compounded monthly. Q2 a) 45,667.54 b) 60,577.27 c) 54,354.22 d) 41,779.08 If $17,000 is invested at 9% per year, in approximately how many years will the investment double? Q3 a) 8.04 b) 4.96 c) 6.02 d) 9.51 Sara wants to have $550,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 10%, to ensure that she has $550,000 in 20 years? a) 78,781.00 b) 4,682,460.05 c) 81,754.00 d) 31,501,249.72 What is the present value (PV) of $300,000 received five years from now, assuming the interest ra 12% per year? a) 170,228.06 b) 186,276.40 c) 528,702.50 d) 1,081,432.86

Name: Q1 MATH1107 Test 3 Version 2 St No. Q4 Calculate the accumulated value after ten years of payments of $1000.00 made at the end of each quarter if interest is 8% compounded monthly. Q2 a) 45,667.54 b) 60,577.27 c) 54,354.22 d) 41,779.08 If $17,000 is invested at 9% per year, in approximately how many years will the investment double? Q3 a) 8.04 b) 4.96 c) 6.02 d) 9.51 Sara wants to have $550,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 10%, to ensure that she has $550,000 in 20 years? a) 78,781.00 b) 4,682,460.05 c) 81,754.00 d) 31,501,249.72 What is the present value (PV) of $300,000 received five years from now, assuming the interest ra 12% per year? a) 170,228.06 b) 186,276.40 c) 528,702.50 d) 1,081,432.86

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 17E
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Name: Q1 MATH1107 Test 3 Version 2 St No. Q4 Calculate the accumulated value after ten years of payments of $1000.00 made at the end of each quarter if interest is 8% compounded monthly. Q2 a) 45,667.54 b) 60,577.27 c) 54,354.22 d) 41,779.08 If $17,000 is invested at 9% per year, in approximately how many years will the investment double? Q3 a) 8.04 b) 4.96 c) 6.02 d) 9.51 Sara wants to have $550,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 10%, to ensure that she has $550,000 in 20 years? a) 78,781.00 b) 4,682,460.05 c) 81,754.00 d) 31,501,249.72 What is the present value (PV) of $300,000 received five years from now, assuming the interest ra 12% per year? a) 170,228.06 b) 186,276.40 c) 528,702.50 d) 1,081,432.86
Transcribed Image Text:Name: Q1 MATH1107 Test 3 Version 2 St No. Q4 Calculate the accumulated value after ten years of payments of $1000.00 made at the end of each quarter if interest is 8% compounded monthly. Q2 a) 45,667.54 b) 60,577.27 c) 54,354.22 d) 41,779.08 If $17,000 is invested at 9% per year, in approximately how many years will the investment double? Q3 a) 8.04 b) 4.96 c) 6.02 d) 9.51 Sara wants to have $550,000 in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of 10%, to ensure that she has $550,000 in 20 years? a) 78,781.00 b) 4,682,460.05 c) 81,754.00 d) 31,501,249.72 What is the present value (PV) of $300,000 received five years from now, assuming the interest ra 12% per year? a) 170,228.06 b) 186,276.40 c) 528,702.50 d) 1,081,432.86
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