Quiz 4 Answers

Quiz 4 Answers - Econ 4 Winter 2008 Quiz #4 Choose the one...

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Unformatted text preview: Econ 4 Winter 2008 Quiz #4 Choose the one best answer. This quiz could take about 34 minutes. 1. The present value of $10,000 five years from now at ____ percent (annual). (a) 7,473 (b) 8,219 (c) 6,806 (d) 6,209 (e) none of these 2. The present value of $10,000 five years from now at ____ percent (daily). (a) 6,066 (b) 8,187 (c) 9,048 (d) 6,703 (e) none of these 3. The future value of $50,000 3 years from now at ____ percent (annual). (a) 61,311 (b) 65,457 (c) 53,588 (d) 57,357 (e) none of these 4. Your rate APR is equivalent to what APY with daily compounding. (a) 10.52% (b) 8.33% (c) 6.18% (d) 4.08% (e) none of these 5. The present value of $100 per year (ordinary annuity) for 5 years at ____ percent w/ annual compounding. (a) $471.00 (b) $399.00 (c) $379.00 (d) $445.00 (e) none of these 6. If you borrow $25,000 for 5 years at _______ rate (annual compounding), then your approximate monthly payments, i.e. annual payment / 12, will be: (a) $442.00 (b) $468.00 (c) $495.00 (d) $522.00 (e) $550.00 Name _______________________________ Number ____________ & Rate ______ : If your number: 135 = 2% 3670 = 4% 71105 = 6% 106140 = 8% 141 max = 10% ...
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