GEB 3006: Practice Quiz #5 (FINAL)
b - -What is the future value of $22,000 invested today at 12% interest in 5 years with
interest compounded daily?
a. $12,075.05
b. $40,082.66
c. $35,788.09
d. $39,734.45
e. $38,771.52
-a - -What is the present value of $6,100 received 6 years from now using a 11% interest
or discount rate, with interest compounded monthly?
a. $3,162.29
b. $2,848.91
c. $3,181.02
d. $11,766.80
e. $3,154.99
-c - -Assume you drive less expensive cars your entire life, saving $200 per month. You
save the money for your retirement. What is the future value of $200.00 deposited at the
beginning of each month for 45 years earning 10% interest?
a. $2,096,500.34
b. $3,598,214.22
c. $2,113,971.18
d. $158,159.06
e. $143,780.97
-c - -What is the present value of $175 deposited at the end of each month for 10 years
earning 5.5% interest?
a. $27,913.83
b. $15,238.24
c. $16,125.13
d. $1,706.68
e. $16,199.03
-a - -What is the monthly house payment on a 30 year $175,000 mortgage at 6% annual
interest?
a. $1,049.21
b. $12,702.34
c. $11,993.92
d. $1,043.99
e. $12,713.56
-389 - -If you have $250,000 saved for retirement, how many months will it last if you
earn an annual interest rate of 5% and withdraw $1,300 at the end of each month?
b - -What is the future value of $22,000 invested today at 12% interest in 5 years with
interest compounded daily?
a. $12,075.05
b. $40,082.66
c. $35,788.09
d. $39,734.45
e. $38,771.52
-a - -What is the present value of $6,100 received 6 years from now using a 11% interest
or discount rate, with interest compounded monthly?
a. $3,162.29
b. $2,848.91
c. $3,181.02
d. $11,766.80
e. $3,154.99
-c - -Assume you drive less expensive cars your entire life, saving $200 per month. You
save the money for your retirement. What is the future value of $200.00 deposited at the
beginning of each month for 45 years earning 10% interest?
a. $2,096,500.34
b. $3,598,214.22
c. $2,113,971.18
d. $158,159.06
e. $143,780.97
-c - -What is the present value of $175 deposited at the end of each month for 10 years
earning 5.5% interest?
a. $27,913.83
b. $15,238.24
c. $16,125.13
d. $1,706.68
e. $16,199.03
-a - -What is the monthly house payment on a 30 year $175,000 mortgage at 6% annual
interest?
a. $1,049.21
b. $12,702.34
c. $11,993.92
d. $1,043.99
e. $12,713.56
-389 - -If you have $250,000 saved for retirement, how many months will it last if you
earn an annual interest rate of 5% and withdraw $1,300 at the end of each month?
