Practice Exam

Howlongwill itbeuntilyouhave20000tobuyacar nab i

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Unformatted text preview: a) 14% compounded annually? _________________________________ b) 14% compounded daily? ____________________________________ (compute answers in years to three decimal places) N = a)_______________ b) __________________ I% = ______________ __________________ PV = _______________ __________________ PMT = _______________ __________________ FV = _______________ _________________ P/Y = _______________ __________________ C/Y = _______________ _________________ 12) You can afford quarterly deposits of $750 into an account that pays 9% compounded quarterly. How long will it be until you have $20,000 to buy a car? N = a)_______________ b) __________________ I% = ______________ __________________ PV = _______________ __________________ PMT = _______________ __________________ FV = _______________ _________________ P/Y = _______________ __________________ C/Y = _______________ _________________ 3 13) An individual wants to establish an annuity for retirement purposes. He wants to make quarterly deposits for 20 years so that he can make quarterly withdrawals of $5,000 for...
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This document was uploaded on 03/12/2014 for the course M 118 at Indiana SE.

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