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Summary Northern Kentucky University FIN 605 Quiz 2 Answered Fall 2024. $10.49   Add to cart
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Summary Northern Kentucky University FIN 605 Quiz 2 Answered Fall 2024.
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Quiz 2 You wish to save $500,000 in the next 25 years. You notice that a corporate bond fund earns about 11 percent per year and that is where you put your savings. How much must you save each year to obtain your goal?  $20,000.00  $2,000.00  $4,370.13  $3,749.98 If the present ...

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  • September 18, 2024
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  • 2024/2025
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Quiz 2
You wish to save $500,000 in the next 25 years. You notice that a corporate bond
fund earns about 11 percent per year and that is where you put your savings. How
much must you save each year to obtain your goal?
 $20,000.00
 $2,000.00
 $4,370.13
 $3,749.98
If the present value of a given sum is equal to its future value, then
 there is no inflation
 the discount rate must be very high
 none of the answers is correct
 the discount rate must be zero
If you invest the $10,000 you receive at graduation (age 22) in a mutual fund that
averages a 12% annual return, how much will you have at the retirement in 40
years?
 $783,879
 $930,510
 $909,090
 $510,285
Your brother, who is 6 years old, just received a trust fund that will be worth
$25,000 when he is 21 years old. If the fund earns 10 percent interest compounded
annually, what is the value of the fund today?
 $6,575
 $5,985
 $6,875
 $104,602
The earnings of Omega Supply Company have grown from $2.00 per share to $4.00
per share over a nine year time period. Determine the compound annual growth
rate.
 22.2%
 100%
 8%
 11.1%
Determine how much $1,000 deposited in a savings account paying 8%
(compounded annually) will be worth after 5 years.
 $784
 $1,469
 $5,526



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