What would be the value of a savings account started with $690 , earning 5 percent (compounded annually) after 6 years?
Use the appropriate Time Value of Money table [
Exhibit 1-A
,
Exhibit 1-B
,
Exhibit 1-C
, OR
Exhibit 1-D
]
(
Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.
)
Your Answer:Question 1 options:Answer
Brenda Young desires to have $23600 saved after 18 years from now for her kid’s college fund. If she will earn 4 percent (compounded annually) on her money, what amount should she deposit now?
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Your Answer:Question 2 options:Answer
What amount would you have if you deposited $9700 a year for 13 years at 3 percent (compounded annually)?
Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]
(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)
Your Answer:Question 3 options:Answer
What would be the net annual cost of the following checking account?
Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.
Your Answer:Question 4 options:Answer
A few years ago, Michael Tucker purchased a home for $114000. Today the home is worth $158000. His remaining mortgage balance is $51000.
Assuming Michael can borrow up to 66 percent of the market value of his home, what is the maximum amount he can borrow?
Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.
Your Answer:Question 5 options:Answer
Kim Lee is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living at home and works in a shoe store, earning a gross income of $1770 per month. Her employer deducts a total of $230 for taxes from her monthly pay. Kim also pays $90 on credit card debt each month. The loan she needs for chiropractic school will cost an additional $170 per month.
Calculate her debt payments-to-income ratio with college loan. Don’t forget to convert your answer to a percentage.
Make sure to include zeros and the period in your answer.
Round your answer to 2 decimal places. i.e. 20.12, 31.89, 10.02, 8.09, etc.
Do not include the “%” sign in your answer.
Your Answer:Question 6 options:Answer
Kim Lee is trying to decide whether she can afford a loan she needs in order to go to chiropractic school. Right now Kim is living at home and works in a shoe store, earning a gross income of $3110 per month. Her employer deducts a total of $230 for taxes from her monthly pay. Kim also pays $60 on credit card debt each month. The loan she needs for chiropractic school will cost an additional $110 per month.
Calculate her debt payments-to-income ratio without college loan. Remember to convert your answer to a percentage!
Make sure to include zeros and the period in your answer.
Round your answer to 2 decimal places. i.e. 13.55, 21.89, 8.21, 10.99, etc.
Do not include the “%” sign in your response.
Your Answer:Question 7 options:Answer
Dorothy lacks cash to pay for a $1,260 dishwasher. She could buy it from the store on credit by making 12 monthly payments of $110. The total cost would then be $1,320. Instead, Dorothy decides to deposit $105 a month in the bank until she has saved enough money to pay cash for the dishwasher. One year later, she has saved $1,348.20—$1,260 in deposits plus interest. When she goes back to the store, she finds the dishwasher now costs $1,461.60. Its price has gone up 16 percent, the current rate of inflation.
From the financial standpoint, was postponing her purchase a good trade-off for Dorothy?
Question 8 options:
No
Yes
Submit Quiz0 of 8 questions saved
We provide professional writing services to help you score straight A’s by submitting custom written assignments that mirror your guidelines.
Get result-oriented writing and never worry about grades anymore. We follow the highest quality standards to make sure that you get perfect assignments.
Our writers have experience in dealing with papers of every educational level. You can surely rely on the expertise of our qualified professionals.
Your deadline is our threshold for success and we take it very seriously. We make sure you receive your papers before your predefined time.
Someone from our customer support team is always here to respond to your questions. So, hit us up if you have got any ambiguity or concern.
Sit back and relax while we help you out with writing your papers. We have an ultimate policy for keeping your personal and order-related details a secret.
We assure you that your document will be thoroughly checked for plagiarism and grammatical errors as we use highly authentic and licit sources.
Still reluctant about placing an order? Our 100% Moneyback Guarantee backs you up on rare occasions where you aren’t satisfied with the writing.
You don’t have to wait for an update for hours; you can track the progress of your order any time you want. We share the status after each step.
Although you can leverage our expertise for any writing task, we have a knack for creating flawless papers for the following document types.
Although you can leverage our expertise for any writing task, we have a knack for creating flawless papers for the following document types.
From brainstorming your paper's outline to perfecting its grammar, we perform every step carefully to make your paper worthy of A grade.
Hire your preferred writer anytime. Simply specify if you want your preferred expert to write your paper and we’ll make that happen.
Get an elaborate and authentic grammar check report with your work to have the grammar goodness sealed in your document.
You can purchase this feature if you want our writers to sum up your paper in the form of a concise and well-articulated summary.
You don’t have to worry about plagiarism anymore. Get a plagiarism report to certify the uniqueness of your work.
Join us for the best experience while seeking writing assistance in your college life. A good grade is all you need to boost up your academic excellence and we are all about it.
We create perfect papers according to the guidelines.
We seamlessly edit out errors from your papers.
We thoroughly read your final draft to identify errors.
Work with ultimate peace of mind because we ensure that your academic work is our responsibility and your grades are a top concern for us!
Dedication. Quality. Commitment. Punctuality
Here is what we have achieved so far. These numbers are evidence that we go the extra mile to make your college journey successful.
We have the most intuitive and minimalistic process so that you can easily place an order. Just follow a few steps to unlock success.
We understand your guidelines first before delivering any writing service. You can discuss your writing needs and we will have them evaluated by our dedicated team.
We write your papers in a standardized way. We complete your work in such a way that it turns out to be a perfect description of your guidelines.
We promise you excellent grades and academic excellence that you always longed for. Our writers stay in touch with you via email.