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Quiz 3 is based on Chapter 4 material.

Instructions
Multiple Attempts Not allowed. This Test can only be taken once.
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Question 1

How many years it will take to grow your money from \$4,140 to \$9,250 if you can earn an interest of 7% compounded quarterly? Note: Do not write “years” in your answer. Simply write the number in the answer box.
1 points
Question 2

Assume interest rate of 4%. A company receives cash flows of \$81,403 at the end of years 4, 5, 6, 7, and 8, and cash flows of \$289,772 at the end of year 10. Compute the future value of this cash flow stream.

Do not enter the symbol \$ in your answer. Simply enter the answer rounded off to two decimal points.

1 points
Question 3

Consider a 10-year loan with monthly payments at 10%. If the loan amount is \$250,000, compute the Interest paid during the 6th year.

Enter your answer rounded off to two decimal points. Do not enter \$ in the answer box.

1 points
Question 4

Today, you are purchasing a \$3,881 10-year car loan at 13 percent. You will pay annually at the end of each year. What is the amount of each payment?
1 points
Question 5

If you put \$700 in a savings account with a 10% nominal rate of interest compounded monthly, what will the investment be worth in 21 months (round to the nearest dollar)?
a.
\$827
b.
\$1,176
c.
\$833
d.
\$828
e.
\$770
1 points
Question 6

The Perpetual Life Insurance Co is trying to sell you an investment policy that will pay you and your heirs \$13,896 per year forever. Suppose the Perpetual Life Insurance Co. told you the policy costs \$186,428. At what interest rate would this be a fair deal? Just enter the number in percentages up to 2 decimal points. Do not enter % in the answer box.

1 points
Question 7

Kelly starting setting aside funds 3 years ago to buy some new equipment for her firm. She has saved \$4,490 each quarter and earned an average rate of return of 8 percent. How much money does she currently have saved for this purpose?
1 points
Question 8

How many years it will take you to quadruple (means 4 times) your money if you can earn 3.08% each year? Note: Do not write “years” in your answer. Simply write the number in the answer box.
1 points
Question 9

Assume interest rate of 9%. Suppose that you receive \$73,621 at the end of each year for 4 years. Suppose that this cash flow starts at the end of the fourth year. Compute the present value.

Do not enter the symbol \$ in your answer. Simply enter the answer rounded off to two decimal points.
1 points
Question 10

Gertrude Carter and Co. has an outstanding loan that calls for equal annual payments of \$14,903 over the 10-year life of the loan. The original loan amount was \$100,000 at an APR of 8 percent. How much of the third payment is interest?

Do not enter the symbol \$ in your answer. Simply enter the answer rounded off to two decimal points.

1 points
Question 11

What is the effective rate of 13% compounded monthly?
Do not enter the symbol % in your answer. Simply enter the answer in percentages rounded off to two decimal points.

1 points
Question 12

How many years it will take to grow your money from \$4,118 to \$6,536 if you can earn an interest of 6% compounded monthly? Note: Do not write “years” in your answer. Simply write the number in the answer box.
1 points
Question 13

What is the future value of quarterly payments of \$582 for 6 years at 5 percent?
1 points
Question 14

Assume interest rate of 4%. A company receives cash flows of \$559 at the end of year 5, \$242 at the end of year 7, and \$962 at the end of year 10. Compute the future value of this cash flow stream.

Do not enter the symbol \$ in your answer. Simply enter the answer rounded off to two decimal points.

1 points
Question 15

How many years it will take you to double your money if you can earn 11% each year, given that compounding is quarterly? Note: Do not write “years” in your answer. Simply write the number in the answer box.
1 points
Question 16

023A:If you can double your money in 7 years, what is the implied annual rate of interest, given that compounded semi-annually? Note: give your answer in percentages. Note: Do not put % sign in your answer. Simply write the number in percentages in the answer box.
1 points
Question 17

026:Say, you deposit \$4,770 in a bank for 19 years. What is the amount you will have in the bank at the end of 19 years if interest of 4 % for first 6 years and interest of 7 % for the remaining years? Note: Do not put \$ sign in your answer. Simply write the number in the answer box.
1 points
Question 18

If you can triple your money in 7 years, what is the implied rate of interest? Note: Do not put % sign in your answer. Simply write the number in percentages in the answer box..
1 points
Question 19

How many months it will take to grow your money from \$4,781 to \$7,279 if you can earn an interest of 15% compounded monthly? Note: Do not write “months” in your answer. Simply write the number in the answer box.
1 points
Question 20

Barrett Pharmaceuticals is considering a drug project that costs \$192,279 today and is expected to generate end-of-year annual cash flows of \$13,125, forever. At what discount rate would Barrett be indifferent between accepting and rejecting the project?

Just enter the number in percentages up to 2 decimal points. Do not enter % in the answer box.

1 points
Question 21

What is the future value of \$2,721 invested for 14 years at 17% if interest is compounded quarterly? Note: Do not put \$ sign in your answer. Simply write the number in the answer box.
1 points
Question 22

How much do you need to invest today in order to have \$5,977 at the end of 16 years if you are sure to earn an interest at the rate of 13%? Note: Do not put \$ sign in your answer. Simply write the number in the answer box.
1 points
Question 23

027:Say, you deposit \$3,531 in a bank for 17 years. What is the amount you will have in the bank at the end of 17 years if interest of 6 % compounded monthly for first 8 years and interest of 7 % compounded quarterly for the remaining years? Note: Do not put \$ sign in your answer. Simply write the number in the answer box.
1 points
Question 24

What is the future value of \$846 invested for 23 years at 10% if interest is compounded semi-annually? Note: Do not put \$ sign in your answer. Simply write the number in the answer box.
1 points
Question 25

What is the future value of \$4,402 for 8 years at 3 percent if interest is compounded semi-annually? Note: Do not enter “\$” in your answer. Simply write down the number that you get as your answer.
1 points
Question 26

The ABC Company is considering a new project which will require an initial cash investment of \$5,692. The project will produce no cash flows for the first 5 years. The projected cash flows for years 6 through 9 are \$2,889, \$4,419, \$4,463, and \$5,459, respectively. If the appropriate discount rate is 12%, compute the NPV of the project.
Enter your answer rounded off to two decimal points. Do not enter \$ in the answer box.
1 points
Question 27

If the effective rate is 15%. What is the nominal rate if compounding is daily. Do not enter the symbol % in your answer. Simply enter the answer in percentages rounded off to two decimal points.
1 points
Question 28

What is the future value of annual payments of \$2,727 for 17 years at 7 percent?
1 points
Question 29

How much do you need to invest today in order to have \$652 at the end of 11 years if you are sure to earn an interest at the rate of 7%, if interest is compounded quarterly? Note: Do not put \$ sign in your answer. Simply write the number in the answer box.
1 points
Question 30

What should you be willing to pay in order to receive \$687 annually forever, if you require 11% per year on the investment?

Just enter the number up to 2 decimal points. Do not enter \$ in the answer box.

1 points
Question 31

How much do you need to invest today in order to have \$5,156 at the end of 22 years if you are sure to earn an interest at the rate of 7%, if interest is compounded monthly? Note: Do not put \$ sign in your answer. Simply write the number in the answer box.
1 points
Question 32

The ABC Company is considering a new project which will require an initial cash investment of \$17,248. The projected cash flows for years 1 through 4 are \$7,945, \$8,617, \$9,024, and \$5,467, respectively. If the appropriate discount rate is 4%, compute the NPV of the project.
Enter your answer rounded off to two decimal points. Do not enter \$ in the answer box.
1 points
Question 33

What is the future value of \$4,678 invested for 10 years at 14% if interest is compounded semi-annually (twice a year)? Note: Do not put \$ sign in your answer. Simply write the number in the answer box.
1 points
Question 34

In order to buy a house, you take a loan of 100,000 at 7.5% for a period of 13 years. Compute the balance remaining at the end of 5 years.

Do not enter the symbol \$ in your answer. Enter your answer as a positive number. Simply enter the answer rounded off to two decimal points.