B) False
Correct Answer
verified
Correct Answer
verified
A) $271.74
B) $286.05
C) $301.10
D) $316.16
E) $331.96
G) A) and C)
Correct Answer
verified
Correct Answer
verified
A) $9,699
B) $10,210
C) $10,747
D) $11,284
E) $11,849
G) B) and D)
Correct Answer
verified
Correct Answer
verified
A) the pv of the $1,000 lump sum has a higher present value than the pv of a 3-year, $333.33 ordinary annuity.
B) the periodic interest rate is greater than 3%.
C) the periodic rate is less than 3%.
D) the present value would be greater if the lump sum were discounted back for more periods.
E) the present value of the $1,000 would be smaller if interest were compounded monthly rather than semiannually.
G) D) and E)
Correct Answer
verified
Correct Answer
verified
A) $526.01
B) $553.69
C) $582.83
D) $613.51
E) $645.80
G) B) and C)
Correct Answer
verified
Correct Answer
verified
A) $20,993
B) $22,098
C) $23,261
D) $24,424
E) $25,645
G) A) and B)
Correct Answer
verified
Correct Answer
verified
A) 15.17%
B) 15.97%
C) 16.77%
D) 17.61%
E) 18.49%
G) D) and E)
Correct Answer
verified
Correct Answer
verified
A) $591.09
B) $622.20
C) $654.95
D) $689.42
E) $723.89
G) A) and C)
Correct Answer
verified
Correct Answer
verified
A) $825,835
B) $869,300
C) $915,052
D) $963,213
E) $1,011,374
G) B) and E)
Correct Answer
verified
Correct Answer
verified
A) $4,271.67
B) $4,496.49
C) $4,733.15
D) $4,969.81
E) $5,218.30
G) A) and E)
Correct Answer
verified
Correct Answer
verified
B) False
Correct Answer
verified
Correct Answer
verified
A) 18
B) 19
C) 20
D) 21
E) 22
G) C) and D)
Correct Answer
verified
Correct Answer
verified
A) time lines cannot be constructed where some of the payments constitute an annuity but others are unequal and thus are not part of the annuity.
B) a time line is not meaningful unless all cash flows occur annually.
C) time lines are not useful for visualizing complex problems prior to doing actual calculations.
D) time lines can be constructed to deal with situations where some of the cash flows occur annually but others occur quarterly.
E) time lines can only be constructed for annuities where the payments occur at the end of the periods, i.e., for ordinary annuities.
G) All of the above
Correct Answer
verified
Correct Answer
verified
A) $1,063,968
B) $1,119,966
C) $1,178,912
D) $1,240,960
E) $1,303,008
G) A) and C)
Correct Answer
verified
Correct Answer
verified
A) $28,532
B) $29,959
C) $31,457
D) $33,030
E) $34,681
G) A) and D)
Correct Answer
verified
Correct Answer
verified
A) if some cash flows occur at the beginning of the periods while others occur at the ends, then we have what the textbook defines as a variable annuity.
B) the cash flows for an ordinary (or deferred) annuity all occur at the beginning of the periods.
C) if a series of unequal cash flows occurs at regular intervals, such as once a year, then the series is by definition an annuity.
D) the cash flows for an annuity due must all occur at the ends of the periods.
E) the cash flows for an annuity must all be equal, and they must occur at regular intervals, such as once a year or once a month.
G) A) and B)
Correct Answer
verified
Correct Answer
verified
B) False
Correct Answer
verified
Correct Answer
verified
A) $15,260
B) $16,063
C) $16,908
D) $17,754
E) $18,642
G) B) and D)
Correct Answer
verified
Correct Answer
verified
A) 6.85%
B) 7.21%
C) 7.59%
D) 7.99%
E) 8.41%
G) D) and E)
Correct Answer
verified
Correct Answer
verified
A) $2,819.52
B) $2,967.92
C) $3,116.31
D) $3,272.13
E) $3,435.74
G) A) and D)
Correct Answer
verified
Correct Answer
verified
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