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Question;21. Gerold invested $6,200 in an account;that pays 5 percent simple interest. How much money will he have at the end of;ten years?;A. $8,710;B. $9,000;C. $9,300;D. $9,678;E. $10,099;22. Alex invested $10,500 in an account;that pays 6 percent simple interest. How much money will he have at the end of;four years?;A. $12,650;B. $12,967;C. $13,020;D. $13,256;E. $13,500;23. You invested $1,650 in an account that;pays 5 percent simple interest. How much more could you have earned over a;20-year period if the interest had compounded annually?;A. $849.22;B. $930.11;C. $982.19;D. $1,021.15;E. $1,077.94;24. Travis invested $9,250 in an account;that pays 6 percent simple interest. How much more could he have earned over a;7-year period if the interest had compounded annually?;A. $741.41;B. $773.58;C. $802.16;D. $833.33;E. $858.09;25. What is the future value of $7,189;invested for 23 years at 9.25 percent compounded annually?;A. $22,483.60;B. $27,890.87;C. $38,991.07;D. $51,009.13;E. $54,999.88;26. Today, you earn a salary of $36,000.;What will be your annual salary twelve years from now if you earn annual raises;of 3.6 percent?;A. $55,032.54;B. $57,414.06;C. $58,235.24;D. $59,122.08;E. $59,360.45;27. You own a classic automobile that is;currently valued at $147,900. If the value increases by 6.5 percent annually;how much will the automobile be worth ten years from now?;A. $244,035.00;B. $251,008.17;C. $270,013.38;D. $277,628.63;E. $291,480.18;28. You hope to buy your dream car four;years from now. Today, that car costs $82,500. You expect the price to increase;by an average of 4.8 percent per year over the next four years. How much will;your dream car cost by the time you are ready to buy it?;A. $98,340.00;B. $98,666.67;C. $99,517.41;D. $99,818.02;E. $100,023.16;29. This morning, TL Trucking invested;$80,000 to help fund a company expansion project planned for 4 years from now.;How much additional money will the firm have 4 years from now if it can earn 5;percent rather than 4 percent on its savings?;A. $2,940.09;B. $3,651.82;C. $4,008.17;D. $4,219.68;E. $4,711.08;30. You just received $225,000 from an;insurance settlement. You have decided to set this money aside and invest it;for your retirement. Currently, your goal is to retire 25 years from today. How;much more will you have in your account on the day you retire if you can earn;an average return of 10.5 percent rather than just 8 percent?;A. $417,137;B. $689,509;C. $1,050,423;D. $1,189,576;E. $1,818,342

Paper#51175 | Written in 18-Jul-2015

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