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Time Value Of Money FE 3300 Fall 2009

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1. The value today (t=0) of receiving $5,000 three years from today (t=3) is $_____. Note: Assume an interest rate of 6%.

$5,788.13

$4,985.00

$4,319.19

$4,198.10

$5,955.08

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Time Value Of Money FE 3300 Fall 2009 - Quiz

Time Value of Money

2.

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2. Assume you deposit $200 per year into an account earning 11%. Assume the first deposit is made exactly one year from today (t=1) and the last deposit is made in exactly 7 years (t=7). The account would be worth $_____ 10 years from today (t=10).

$1,956.65

$2,675.98

$1,400.00

$2,525.48

$1,897.43

Submit

3. Vijai is 23 years old today. He plans to deposit a certain amount into his retirement account today (t = 0) and on each birthday until he turns 65. He plans to withdraw $100,000 per year on each birthday beginning when he is 66 and ending when he is 89. The account will earn 7%. What must the deposits be?

$6,561.54

$6,693.26

$4,549.34

$4,628.90

$5,000.00

Submit

4. Chris just bought a brand new Corvette for $78,000. He made no down payment and will make monthly payments of $1,524.14 per months for 72 months. The interest rate on the loan is __________%p.a.

99.84%

0.99%

5.99%

8.54%

11.98%

Submit

5. Ashleigh bought a house that originally cost $250,000. Her down payment was 20%. It was a 30 year mortgage with a 6% interest rate and monthly payments. What is the remaining balance on her mortgage after 15 years?

$142,097.68

$143,892.00

$167,371.45

$196,875.34

$287,784.25

Submit

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The value today (t=0) of receiving $5,000 three years from today (t=3)...

Assume you deposit $200 per year into an account earning 11%. Assume...

Vijai is 23 years old today. He plans to deposit a certain amount...

Chris just bought a brand new Corvette for $78,000. He made no down...

Ashleigh bought a house that originally cost $250,000. Her down...

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