# What would be the yearly earnings for a person with \$6200 in savings at an annual interest rate of 24.0% percent?

What would be the yearly earnings for a person with \$6200 in savings at an annual interest rate of 24.0% percent?

Question 1 options:

#### Question 2&nbsp;(1 point)

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What is the future value of \$3130 10 years from now at 2 percent?

Use the appropriate Time Value of Money table [Exhibit 1-A,&nbsp;&nbsp;Exhibit 1-B,&nbsp;&nbsp;Exhibit 1-C, OR&nbsp;Exhibit 1-D]

Question 2 options:

#### Question 3&nbsp;(1 point)

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What is the future value of \$1950 saved each year for 7 years at 10 percent?

Use the appropriate Time Value of Money table [Exhibit 1-A,&nbsp;&nbsp;Exhibit 1-B,&nbsp;&nbsp;Exhibit 1-C, OR&nbsp;Exhibit 1-D]

Question 3 options:

#### Question 4&nbsp;(1 point)

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What is the amount a person would have to deposit today (present value) at 5 percent interest rate to have \$10650 saved 16 years from now.

Use the appropriate Time Value of Money table [Exhibit 1-A,&nbsp;&nbsp;Exhibit 1-B,&nbsp;&nbsp;Exhibit 1-C, OR&nbsp;Exhibit 1-D]

Question 4 options:

#### Question 5&nbsp;(1 point)

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What is the amount you would have to deposit today to be able to take out \$4500 a year for 16 years from an account earning 3 percent.

Use the appropriate Time Value of Money table [Exhibit 1-A,&nbsp;&nbsp;Exhibit 1-B,&nbsp;&nbsp;Exhibit 1-C, OR&nbsp;Exhibit 1-D]

Question 5 options:

#### Question 6&nbsp;(1 point)

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If you desire to have&nbsp;\$40900 for a down payment for a house in 10 years, what amount would you need to deposit today? Assume that your money will earn 6 percent.

Use the appropriate Time Value of Money table [Exhibit 1-A,&nbsp;&nbsp;Exhibit 1-B,&nbsp;&nbsp;Exhibit 1-C, OR&nbsp;Exhibit 1-D]

Question 6 options:

#### Question 7&nbsp;(1 point)

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Pete Morton is planning to go to graduate school in a program of study that will take&nbsp;2&nbsp;years. Pete wants to have \$21900&nbsp;available each year for various school and living expenses. If he earns&nbsp;5&nbsp;percent on his money, how much must be deposit at the start of his studies to be able to withdraw&nbsp;\$21900&nbsp;a year for&nbsp;2&nbsp;years?

Use the appropriate Time Value of Money table [Exhibit 1-A,&nbsp;&nbsp;Exhibit 1-B,&nbsp;&nbsp;Exhibit 1-C, OR&nbsp;Exhibit 1-D]

Question 7 options:

#### Question 8&nbsp;(1 point)

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Carla Lopez deposits \$6980 a year into her retirement account. If these funds have an average earning of&nbsp;3 percent over the&nbsp;15 years until her retirement, what will be the value of her retirement account?

Use the appropriate Time Value of Money table [Exhibit 1-A,&nbsp;&nbsp;Exhibit 1-B,&nbsp;&nbsp;Exhibit 1-C, OR&nbsp;Exhibit 1-D]

Question 8 options:

#### Question 9&nbsp;(1 point)

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If a person spends \$22&nbsp;a week on coffee (52 weeks in a year), what would be the future value of that amount over&nbsp;15years if the funds were deposited in an account earning&nbsp;6&nbsp;percent?

Use the appropriate Time Value of Money table [Exhibit 1-A,&nbsp;&nbsp;Exhibit 1-B,&nbsp;&nbsp;Exhibit 1-C, OR&nbsp;Exhibit 1-D]

Question 9 options:

#### Question 10&nbsp;(1 point)

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Question 10 options:

A financial company that advertises on television will pay you \$61,000 now for annual payments of \$9,400 that you are expected to receive for a legal settlement over the next 11 years. Assume you estimate the time value of money at 12 percent.

Use the appropriate time value of money table [Exhibit 1-A,&nbsp;&nbsp;Exhibit 1-B,&nbsp;&nbsp;Exhibit 1-C, OR&nbsp;Exhibit 1-D].

(a)&nbsp;What is the present value?