Question 8 25 out of 25 points janice would like to

 Question 8
2.5 out of 2.5 points
Janice would like to send her parents on a cruise for their 25th
wedding 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 to
cruise?
 Question 9
0 out of 2.5 points

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 10
0 out of 2.5 points
Young 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 11
0 out of 2.5 points
Drexel 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

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 13
0 out of 2.5 points
If 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 percent
rate of interest on the unpaid balance, what are the 30 equal
annual payments?
Answer
Selected
Answer:
[None
Given]
 Question 14
0 out of 2.5 points
Penny 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]