Question Al invested $3630 in an account that pays 6 percent simple interest. How much money will he have at the end of five years? a) $4,910 b) $5,056 c) $4,719 d) $4,678 e) $5,299 Explanation To calculate the amount ...

## QuizlyPro Latest Articles

## Which one of these will increase the present value of a set amount

Jenness KyleQuestion Which one of these will increase the present value of a set amount to be received sometime in the future? a) Increase in the time until the amount is received b) Increase in the discount rate c) Decrease in ...

## Which one of the following will produce the lowest present value interest factor

Jenness KyleQuestion Which one of the following will produce the lowest present value interest factor? a) 6 percent interest for 5 years b)6 percent interest for 8 years c) 6 percent interest for 10 years d) 8 percent Interest for 5 ...

## Your goal is to have $1 million in your retirement savings on the day you retire

Jenness KyleQuestion Your goal is to have $1 million in your retirement savings on the day you retire. To fund this goal, you will make one lump sum deposit today. If you plan to retire rather than and earn a rate ...

## Your grandmother has promised to give you $10000 when you graduate from college

Jenness KyleQuestion Your grandmother has promised to give you $10,000 when you graduate from college. If you speed up your graduation by one year and graduate two years from now rather than the expected three years, the present value of this ...

## Sam just opened a savings account paying 3.5 percent interest

Jenness KyleQuestion Sam just opened a savings account paying 3.5 percent interest, compounded annually. After four years, the savings account will be worth $5,000. Assume there are no additional deposits or withdrawals. Given this, Sam: a) will earn the same amount ...

## The process of determining the present value of future cash flows

Jenness KyleQuestion The process of determining the present value of future cash flows in order to know their value today is referred to as: a) compound interest valuation. b) interest on interest valuation. c) discounted cash flow valuation. d) future value ...

## Steve just computed the present value of a $10000 bonus

Jenness KyleQuestion Steve just computed the present value of a $10,000 bonus he will receive next year. The interest rate he used in his computation is referred to as the a) current yield. b) effective rate. c) compound rate. d) simple ...

## Terry is calculating the present value of a bonus he will receive next year

Jenness KyleQuestion Terry is calculating the present value of a bonus he will receive next year. The process he is using is called: a) growth analysis. b) discounting c) accumulating. d) compounding e) reducing.

## Kurt won a lottery and will receive $1000 a year for the next 50 years

Jenness KyleQuestion Kurt won a lottery and will receive $1,000 a year for the next 50 years. The current value of these winnings is called the a) single amount. b) future value. c) present value. d) simple amount. e) compounded value