**1.**

Don't use plagiarized sources. Get Your Custom Essay on

Quiz week 5 | Business & Finance homework help

Just from $13/Page

Find the simple interest on a $400 investment made for 5 years at an interest rate of 7%/year. What is the accumulated amount?

A) The simple interest is $140, the accumulated amount is $540.

B) The simple interest is $115, the accumulated amount is $515.

C) The simple interest is $120, the accumulated amount is $520.

D) The simple interest is $125, the accumulated amount is $555.

**2.**

If the accumulated amount is $3,720 at the end of 3 years and the simple rate of interest is 8%/year, what is the principal?

A) The principal is $3,500.

B) The principal is $3,360.

C) The principal is $3,000.

D) The principal is $3,200.

**3.**

Find the accumulated amount A if the principal P = $2,000 is invested at the interest rate of r = 6% per year for t = 6 years, compounded annually.

A) The accumulated amount is $3,508.28.

B) The accumulated amount is $3,194.16.

C) The accumulated amount is $2,837.04.

D) The accumulated amount is $2,708.89.

**4.**

Find the accumulated amount A if the principal P = $11,000 is invested at the interest rate of r = 5% per year for t = 5.5 years, compounded quarterly.

A) The accumulated amount is $14,585.32.

B) The accumulated amount is $13,785.93.

C) The accumulated amount is $14,100.05.

D) The accumulated amount is $14,457.17.

**5.**

Determine the simple interest rate at which $1,500 will grow to $1,550 in the 8 months. Round your answers to the nearest tenth of percent.

A) The interest rate is 5%/year.

B) The interest rate is 4.33%/year.

C) The interest rate is 4.76%/year.

D) The interest rate is 66.67%/year.

E) The interest rate is 3.06%/year.

**6.**

Find the present value of $40,000 due in 4 years at the given rate of interest 8%/year compounded monthly.

A) The present value is $28,948.67.

B) The present value is $29,433.94.

C) The present value is $29,076.82.

D) The present value is $29,748.06.

**7.**

In order to help finance the purchase of a new house, the Abdullahs have decided to apply for a short-term loan (a bridge loan) in the amount of $140,000 for a term of 1 mo. If the bank charges simple interest at the rate of 12%/year, how much will the Abdullahs owe the bank at the end of the term?

A) $141,400

B)

$140,012

C) $146,800

D) $144,900

**8.**

The Kwans are planning to buy a house 6 years from now. Housing experts in their area have estimated that the cost of a home will increase at a rate of 6%/year during that period. If this economic prediction holds true, how much can the Kwans expect to pay for a house that currently costs $160,000?

A) $218,199

B) $221,562

C) $230,490

D) $226,963

**9.**

The manager of a money market fund has invested $4.2 million in certificates of deposit that pay interest at the rate of 5.4%/year compounded quarterly over a period of 5 years. How much will the investment be worth at the end of 5 years?

A) 5,491,921.88

B) 3,211,990.34

C) 1,291,921.88

D) 12,024,347.20

**10.**

Find the effective rate corresponding to nominal rate 6% / year compounded monthly. Round the answers to the nearest hundredth of percent.

A) 6.538%

B) 5.858%

C) 6.598%

D) 6.168%

**11.**

Find the interest rate needed for an investment of $4,000 to grow to an amount of $5,000 in 4 yr if interest is compounded continuously. Please round the answer to the nearest hundredth of percent.

A) 5.58 %/yr

B) 5.70 %/yr

C) 6.63 %/yr

D) 5.01 %/yr

E) 5.92 %/yr

**12.**

Anthony invested a sum of money 6 yr ago in a savings account that has since paid interest at the rate of 7%/year compounded quarterly. His investment is now worth $19,713.77. How much did he originally invest? Please round the answer to the nearest cent.

A) $13,000.01

B) $12,500.01

C) $14,000.01

D) $11,500.01

E) $11,000.01

**13.**

Georgia purchased a house in 1998 for $220,000. In 2003 she sold the house and made a net profit of $50,000. Find the effective annual rate of return on her investment over the 5-yr period. Please round the answer to the nearest tenth of percent.

A) 3.7%/yr

B) 3.1%/yr

C) 4.4%/yr

D) 4.2%/yr

E) 5.6%/yr

**14.**

Find the amount of an ordinary annuity of 10 yearly payments of $1,800 that earn interest at 10% per year, compounded annually.

A) $4,668.74

B) $28,687.36

C) $87,798.04

D) $3,600.00

**15.**

Robin, who is self-employed, contributes $4,000/year into a Keogh account. How much will he have in the account after 15 years if the account earns interest at the rate of 6.5%/year compounded yearly?

A) $96,728.68

B) $10,287.36

C) $158,267.14

D) $3,771.28

**16.**

If a merchant deposits $1,500 annually at the end of each tax year in an IRA account paying interest at the rate of 10%/year compounded annually, how much will she have in her account at the end of 25 years? Round your answer to two decimal places.

A) $16,252.06

B) $147,520.59

C) $5,250.00

D) $34,663.65

**17.**

Find the present value of an ordinary annuity of $600 payments each made quarterly over 5 years and earning interest at 4% per year compounded quarterly.

A) $8,154.20

B) $2,671.09

C) $10,827.33

D) $56,916.87

**18.**

Juan invested $24,000 in a mutual fund 5 years ago. Today his investment is worth $34,616. Find the effective annual rate of return on his investment over the 5-year period.

A) 10.3%/year

B) 8%/year

C) 83%/year

D) 8.3%/year

**19.**

Find the amount of an ordinary annuity for 5 years of quarterly payments of $2,200 that earn interest at 4% per year compounded quarterly.

A) $11,222.21

B) $65,511.77

C) $48,441.81

D) $2,684.42

**20.**

Find the present value of the ordinary annuity. Please round the answer to the nearest cent.$2,000 per semiannual period for 7 yr at 12%/year compounded semiannually

A) P = $18,589.97

B) P = $17,913.54

C) P = $20,003.52

D) P = $13,147.80

E) P = $9,629.07

Why Choose Us

Quality Papers

We value our clients. For this reason, we ensure that each paper is written carefully as per the instructions provided by the client. Our editing team also checks all the papers to ensure that they have been completed as per the expectations.

Professional Academic Writers

Over the years, MyEssay.Help has managed to secure the most qualified, reliable and experienced team of writers. The company has also ensured continued training and development of the team members to ensure that it keep up with the rising Academic Trends.

Affordable Prices

Our prices are fairly priced in such a way that ensures affordability. Additionally, you can get a free price quotation by clicking on the "Place Order" button.

On-Time delivery

We pay strict attention on deadlines. For this reason, we ensure that all papers are submitted earlier, even before the deadline indicated by the customer. For this reason, the client can go through the work and review everything.

100% Originality

At MyEssay.help, all papers are plagiarism-free as they are written from scratch. We have taken strict measures to ensure that there is no similarity on all papers and that citations are included as per the standards set.

Customer Support 24/7

Our support team is readily available to provide any guidance/help on our platform at any time of the day/night. Feel free to contact us via the Chat window or support email: support@myessay.help.

Try it now!

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

MyEssay.help has stood as the world’s leading custom essay writing services providers. Once you enter all the details in the order form under the place order button, the rest is up to us.

Essays

At MyEssay.help, we prioritize on all aspects that bring about a good grade such as impeccable grammar, proper structure, zero-plagiarism and conformance to guidelines. Our experienced team of writers will help you completed your essays and other assignments.

Admissions

Admission and Business Papers

Be assured that you’ll definitely get accepted to the Master’s level program at any university once you enter all the details in the order form. We won’t leave you here; we will also help you secure a good position in your aspired workplace by creating an outstanding resume or portfolio once you place an order.

Editing

Editing and Proofreading

Our skilled editing and writing team will help you restructure you paper, paraphrase, correct grammar and replace plagiarized sections on your paper just on time. The service is geared toward eliminating any mistakes and rather enhancing better quality.

Coursework

Technical papers

We have writers in almost all fields including the most technical fields. You don’t have to worry about the complexity of your paper. Simply enter as much details as possible in the place order section.