Georgia State University Business and Finance Questions Questions are attached below Subject: Finance Part Four

#2

What is the value today of a money machine that will pay $2,958.00 per year for 29.00 years?

Assume the first payment is made one year from today and the interest rate is 9.00%.

Submit

Answer format: Currency: Round to: 2 decimal places.

#3

What is the value today of a money machine that will pay $2,647.00 per year for 16.00 years?

Assume the first payment is made 4.00 years from today and the interest rate is 6.00%.

Submit

Answer format: Currency: Round to: 2 decimal places.

#4

What is the value today of a money machine that will pay $2,161.00 every six months for 17.00

years? Assume the first payment is made six months from today and the interest rate is 12.00%.

Submit

Answer format: Currency: Round to: 2 decimal places.

What is the value today of a money machine that will pay $2,121.00 every six months for 22.00

years? Assume the first payment is made 5.00 years from today and the interest rate is 13.00%.

Part Five

#1

What is the value today of a money machine that will pay $5,819.00 per year for 24.00 years?

Assume the first payment is made today and that there are 24.0 total payments. The interest rate is

12.00%.

Submit

Answer format: Currency: Round to: 2 decimal places.

#2

Derek will deposit $3,708.00 per year for 29.00 years into an account that earns 8.00%. The first

deposit is made next year. How much will be in the account 29.0 years from today?

Submit

Answer format: Currency: Round to: 2 decimal places.

#3

Derek will deposit $1,521.00 per year for 19.00 years into an account that earns 6.00%, The first

deposit is made next year. How much will be in the account 40.00 years from today?

Submit

Answer format: Currency: Round to: 2 decimal places.

#4

Derek will deposit $2,610.00 per year for 19.00 years into an account that earns 12.00%. The first

deposit is made today. How much will be in the account 19.0 years from today? Note that he makes

19.0 total deposits.

Submit

Answer format: Currency: Round to: 2 decimal places.

#5

Derek will deposit $1,180.00 per year into an account starting today and ending in year 17.00. The

account that earns 9.00%. How much will be in the account 17.0 years from today?

Submit

Answer format: Currency: Round to: 2 decimal places.

#6

Derek has the opportunity to buy a money machine today. The money machine will pay Derek

$45,250.00 exactly 17.00 years from today. Assuming that Derek believes the appropriate discount

rate is 15.00%, how much is he willing to pay for this money machine?

Submit

Part One

#4

Suppose you deposit $2,633.00 into an account today. In 14.00 years the account is worth

$3,814.00. The account earned ____% per year.

Submit

Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will

accept decimal format rounded to 4 decimal places (ex: 0.0924))

#5

Suppose you deposit $1,533.00 into an account today that earns 15.00%. It will take ___ years for

the account to be

Part two

#4

Assume the nominal rate of return is 11.57% and the real rate is 3.24%. Find the inflation rate of

return using the exact formula.

Part Three

#2

Suppose you need to have $53,313.00 in an account 15.00 years from today and that the account

pays 9.00%. How much do you have to deposit into the account 6.00 years from today?

Submit

Answer format: Currency: Round to: 2 decimal places.

#3

Suppose you deposit $1,067.00 into an account 5.00 years from today. Exactly 19.00 years from

today the account is worth $1,677.00. What was the account’s interest rate?

Submit

Answer format: Percentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will

accept decimal format rounded to 5 decimal places (ex: 0.09243))

#4

Suppose you deposit $1,068.00 into an account 6.00 years from today that earns 10.00%. It will be

worth $1,704.00 _____ years from today.

Submit

Answer format: Number: Round to: 2 decimal places.

#5

Assume the real rate of interest is 4.00% and the inflation rate is 6.00%. What is the value today of

receiving 13,364.00 in 10.00 years?

Submit

Answer format: Currency: Round to: 2 decimal places.

Part 9

#2

Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 74.00.

During these years of part-time work, he will neither make deposits to nor take withdrawals from his

retirement account. Exactly one year after the day he turns 74.0 when he fully retires, he will begin to

make annual withdrawals of $148,763.00 from his retirement account until he turns 86.00. After this

final withdrawal, he wants $1.72 million remaining in his account. He he will make contributions to

his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the

contributions be? Assume a 8.00% interest rate.

Submit

Answer format: Currency: Round to: 2 decimal places.

#3

A bank offers 4.00% on savings accounts. What is the effective annual rate if interest is

compounded semi-annually?

Submit

Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will

accept decimal format rounded to 6 decimal places (ex: 0.092434))

#4

A bank offers 7.00% on savings accounts. What is the effective annual rate if interest is

compounded quarterly?

Submit

Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will

accept decimal format rounded to 6 decimal places (ex: 0.092434))

Attempts Remaining: Infinity

#5

A bank offers 6.00% on savings accounts. What is the effective annual rate if interest is

compounded monthly?

Submit

Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will

accept decimal format rounded to 6 decimal places (ex: 0.092434))

Part ten

#2

A bank offers 9.00% on savings accounts. What is the effective annual rate if interest is

compounded continuously?

Submit

Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will

accept decimal format rounded to 6 decimal places (ex: 0.092434))

#4

Assume a bank offers an effective annual rate of 5.58%. If compounding is monthly what is the

APR?

Submit

Answer format: Percentage Round to: 4 decimal places (Example: 9.2434%, % sign required. Will

accept decimal format rounded to 6 decimal places (ex: 0.092434))

#5

Derek borrows $252,623.00 to buy a house. He has a 30-year mortgage with a rate of 5.92%. The

monthly mortgage payment is $________.

Submit

Answer format: Currency: Round to: 2 decimal places.

#6

Suppose you deposit $1,035.00 into an account 7.00 years from today. Exactly 13.00 years from

today the account is worth $1,615.00. What was the account’s interest rate?

Submit

Answer format: Percentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will

accept decimal format rounded to 5 decimal places (ex: 0.09243))

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