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MuhammadYousaf
 MuhammadYousaf
posted
Feb 9 2014 
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Future Value Given a 7.25 percent interest rate, compute the year 7 future value of deposits made in years 1, 2, 3, and 4 of $2,100, $2,300, $2,600, and $2,600. $10,928.31 $12,530.29 $12,280.73
Future Value Given a 7.25 percent interest rate, compute the year 7 future value of deposits made in years 1, 2, 3, and 4 of $2,100, $2,300, $2,600, and $2,600.     $10,928.31     $12,530.29     $12,280.73     $13,107.23                                        
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ture Value Given a 7.25 percent interest r...(59 more words & 0 attachments).
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MuhammadYousaf
 MuhammadYousaf
posted
Feb 9 2014 
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Payday loans are very short-term loans that charge very high interest rates. You can borrow $550 today and repay $675 in two weeks. What is the compounded annual rate implied by this 22.73% rate char
Payday loans are very short-term loans that charge very high interest rates. You can borrow $550 today and repay $675 in two weeks. What is the compounded annual rate implied by this 22.73% rate charged for only two weeks?     2,04.45%     204.45%     25.40%     20,445.61%                                        
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nd repay $675 in two weeks. What is the compounded an...(46 more words & 0 attachments).
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MuhammadYousaf
 MuhammadYousaf
posted
Feb 9 2014 
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Which of the following will decrease the present value of an annuity? The discount rate increases. The number of periods the annuity is received increases. The discount rate decreases. The final
Which of the following will decrease the present value of an annuity?     The discount rate increases.     The number of periods the annuity is received increases.     The discount rate decreases.     The final payment increases.                                        
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discount rate decreases. The final paymen...(40 more words & 0 attachments).
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MuhammadYousaf
 MuhammadYousaf
posted
Feb 9 2014 
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Present Value Given a 6 percent interest rate, compute the present value of deposits made in years 1, 2, 3, and 4 of $1,200, $1,400, $1,400, and $1,500. $5,506.00 $4,356.52 $4,741.68 $5,188.68
Present Value Given a 6 percent interest rate, compute the present value of deposits made in years 1, 2, 3, and 4 of $1,200, $1,400, $1,400, and $1,500.     $5,506.00     $4,356.52     $4,741.68     $5,188.68                                        
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,400, $1,400, and $1,500. $5,506.00 ...(46 more words & 0 attachments).
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MuhammadYousaf
 MuhammadYousaf
posted
Feb 9 2014 
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Your current $155,000 mortgage calls for monthly payments over 25 years at an annual rate interest rate of 6%. If you pay an additional $50 each month beginning with the first payment, how much inter
Your current $155,000 mortgage calls for monthly payments over 25 years at an annual rate interest rate of 6%. If you pay an additional $50 each month beginning with the first payment, how much interest expense do you save by pre-paying?     $17,152.22     $19,001.69     $16,009.62     $15,981.28                                        
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ave by pre-paying? $17,152.22 $19,001.69 $16,009.62...(58 more words & 0 attachments).
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MuhammadYousaf
 MuhammadYousaf
posted
Feb 9 2014 
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A mortgage broker is offering a $225,000 30-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 2.5% APR interest rate. After the s
A mortgage broker is offering a $225,000 30-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 2.5% APR interest rate. After the second year, the mortgage interest rate charged increases to 8.5% APR. What are the mortgage payments in the first two years? What are the mortgage payments after the second year?     $889.02; $1,677.09     $889.02; $1,650.61     $790.25; $1,512.93     $790.25; $1,309.13                                        
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the mortgage, the borrower makes monthly payments on only a 2.5% APR interest rate. After th...(74 more words & 0 attachments).
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MuhammadYousaf
 MuhammadYousaf
posted
Feb 9 2014 
library
Your client has been given a trust fund valued at $1 million. She cannot access the money until she turns 68 years old, which is in 12 years. At that time, she can withdraw $30,000 per month. If the
Your client has been given a trust fund valued at $1 million. She cannot access the money until she turns 68 years old, which is in 12 years. At that time, she can withdraw $30,000 per month. If the trust fund is invested at a 7% interest rate, how many months will it last your client once she starts to withdraw the money?     99.05 months     119.05 months     77.05 months     81.05 months                                        
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at time, she can withdraw $30,000 per month. If the trust fund is invested at...(63 more words & 0 attachments).
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MuhammadYousaf
 MuhammadYousaf
posted
Feb 9 2014 
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Future Value Given an 8 percent interest rate, compute the year 7 future value if deposits of $1,500 and $2,500 are made in years 2 and 3, respectively, and a withdrawal of $2,000 is made in year 5.
Future Value Given an 8 percent interest rate, compute the year 7 future value if deposits of $1,500 and $2,500 are made in years 2 and 3, respectively, and a withdrawal of $2,000 is made in year 5.     $3,433.60     $5,656.34     $1,909.42     $3,272.41                                        
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erest rate, compute the year 7 future value if de...(59 more words & 0 attachments).
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MuhammadYousaf
 MuhammadYousaf
posted
Feb 9 2014 
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Teaser Rate Mortgage A mortgage broker is offering a 30-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 6.1 percent APR interes
Teaser Rate Mortgage A mortgage broker is offering a 30-year mortgage with a teaser rate. In the first two years of the mortgage, the borrower makes monthly payments on only a 6.1 percent APR interest rate. After the second year, the mortgage interest charged increases to 10.2 percent APR. What is the effective interest rate in the first two years? What is the effective interest rate after the second year?     6.27%, 10.69% respectively     6.10%, 10.20% respectively     5.99%, 9.92% respectively     13.69%, 14.85% respectively                                        
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cent APR. What is the effective interest rate in the first two years? What is the effective interest rate...(68 more words & 0 attachments).
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MuhammadYousaf
 MuhammadYousaf
posted
Feb 9 2014 
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Compound Frequency Payday loans are very short-term loans that charge very high interest rates. You can borrow $2,100 today and repay $2,457 in two weeks. What is the compound annual rate implied by
Compound Frequency Payday loans are very short-term loans that charge very high interest rates. You can borrow $2,100 today and repay $2,457 in two weeks. What is the compound annual rate implied by this 17 percent rate charged for only two weeks?     17.40%      5,826.97%     18.45%     20.40%                                         
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ate implied by this 17 percent rate charged for only two ...(49 more words & 0 attachments).
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