FIN3403 Business Finance Quiz 2 Results University of Central Florida
Score for this attempt: 19 out of 20 Submitted
Oct 9 at 12:32pm
This attempt took 182 minutes.
pts
Question 1
You expect to receive $5,000 in 6 years from a lawsuit settlement. What is the present value
of the settlement? Use an annual interest rate of 9.50%.
$2,900
Correct!
Question 2 pts
What is the monthly payment on a $770,000 mortgage? Assume a standard 30-year,
5.5% mortgage with monthly payments.
$4,371
Correct!
pts
Question 3
You just won the lottery, which promises you $200,000 per year for the next 20 years.
You receive the first payment today (hint: annuity due). If your discount rate is 9.25%,
what is the present value of your winnings?
, Correct!
Score for this attempt: 19 out of 20 Submitted
Oct 9 at 12:32pm
This attempt took 182 minutes.
pts
Question 1
You expect to receive $5,000 in 6 years from a lawsuit settlement. What is the present value
of the settlement? Use an annual interest rate of 9.50%.
$2,900
Correct!
Question 2 pts
What is the monthly payment on a $770,000 mortgage? Assume a standard 30-year,
5.5% mortgage with monthly payments.
$4,371
Correct!
pts
Question 3
You just won the lottery, which promises you $200,000 per year for the next 20 years.
You receive the first payment today (hint: annuity due). If your discount rate is 9.25%,
what is the present value of your winnings?
, Correct!
