Spring07-quiz2

Spring07-quiz2 - BUS 170 Fundamentals of Finance Spring...

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BUS 170 – Fundamentals of Finance Spring 2007 Quiz 2 – Take-Home Assignment Last Name: __________________________ First Name: _____________________ Class Time: _________________________ Instructions: This is a take-home, open book, open notes test. Work on this assignment is to be yours alone - any discussion of either the questions on the exam or your answers with anyone other than your instructor will be considered as cheating. This test contains 25 questions based on chapters 5-8 from the textbook. There are 7 multiple- choice questions followed by 18 non-multiple-choice questions. The due date for this take-home assignment is Wednesday April 4, 2007 . The test with the solution to the questions will be collected at the beginning of the class scheduled on the due date. Any work received later than the scheduled time will not be graded. No late work will be accepted . Record your answer to each of the questions on the answer sheet found at the end of this test. In addition to the final answer, you must report the complete, correct, and consistent solution or justification to each of the questions . For the multiple-choice questions you need to report and justify the reasoning that leads you to selecting a given final answer. For the non-multiple-choice questions you need to report and explain all the computations necessary to solve the problems. You must label all the numbers you use in the computations. The solutions or justifications for the final answers must be typed and stapled to the completed answer sheet. The explanations contained in the justifications or the computations contained in the solutions must be clear, “professional” and easy to understand. Grading: Each question is worth 4 points . In order to receive the 4 points awarded to each question, you must report the correct final answer on the answer sheet along with the complete, correct, and consistent justification or solution to the questions. If you report the correct final answer on the answer sheet, but you do not provide a complete and consistent justification or solution to the questions, you will not receive any points. No partial credit is given in this test . If the solutions or justifications for the final answers are not typed and stapled to the completed answer sheet you will receive a penalization of 30 points . 1
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MULTIPLE CHOICE QUESTIONS 1. Which of the following statements is correct? a. The present value of an annuity due is equal to the present value of an ordinary annuity multiplied by a factor of (1 + r). b. The present value of an annuity due is equal to the present value of an ordinary annuity divided by a factor of (1 + r).
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Spring07-quiz2 - BUS 170 Fundamentals of Finance Spring...

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