Question 8 25 out of 25 points Janice would like to send her parents on a

Question 8 25 out of 25 points janice would like to

This preview shows page 38 - 41 out of 88 pages.

Question 82.5 out of 2.5 pointsJanice would like to send her parents on a cruise for their 25thwedding aniversary. She has pricedthe cruise at $15000 and she has 5 years to accumulate this money. How much must Janice deposit annually in an account paying 10 percent interest in order to have enough money to send her parents tocruise? Question 9 0 out of 2.5 points
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You have just borrowed $20,000 to buy a new car. The loan agreement calls for 60 monthly payments of $444.89 each to begin one month from today. If the interest is compounded montly. then what is the effective annual rate on this loa? Answer Selected Answer: [None Given] Question 100 out of 2.5 pointsYoung Sook owns stock in a company which has consistently paid a growing dividend over the last 10 years. The first year Young Sook owned the stock , she received $4.50 per share and in the 10th year, she received $4.92 per share. What is the growth rate of the dividends over last 10 years? Answer Selected Answer: [None Given] Question 110 out of 2.5 pointsDrexel Corporation has been enjoying a phenomenal rate of growth since its inception one year ago.Currently, its assets total $100,000. If growth continues at the current rate of 12% compounded quarterly, what will total assets be in 2 1/2 years? Answer Selected Answer: [None Given] Question 12 0 out of 2.5 points
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Dan plans to fund his individual retirement account (IRA) with ther maximum contribution of $2000 at the end of each year for the next 10 years. If Dan can earn 10 percent on his contributions, how much will he have at the end of tenth year Answer Selected Answer: [None Given] Question 130 out of 2.5 pointsIf you buy a factory for $250,000 and the terms are 20% down, the balance to be paid off over 30 years at a 12 percentrate of interest on the unpaid balance, what are the 30 equal annual payments? Answer Selected Answer: [None Given] Question 140 out of 2.5 pointsPenny just won the state lottery that offers a choice of payments. She may opt for either receiving $1,000,000 today or $2,000,000 at the end of ten years. If she can invest her funds at 5% annually, which is the better choice? Answer Selected Answer: [None Given]
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