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(Solved) 1). You just took out a $12,000 loan for your small business. The loan has a four-year term and repayment is in the form of four equal end- of -


I have a quiz that is 10 questions multiple choice except for 1. Really need help with these quick answers. Please see attachment below for questions.

1). You just took out a $12,000 loan for your small business. The loan has a four-year term and
repayment is in the form of four equal end- of - minus− year payments. The interest rate on the loan
is 11.5%. Consider the final loan payment. How much principal do you pay in the final payment? A. $3,909.29
B. $3,506.09
C. $3,144.48
D. $2,529.29
E. $2,820.16
2). 5- year regular annuity has a present value of $1,000, and if the interest rate is 10%, what is the
amount of each annuity payment?
A. $240.42    
B. $346.87
C. $300.20   
D. $315.38   
E. $263.80 
3). What is the present value of a 5−year ordinary annuity with annual payments of $200, evaluated at a
15 percent interest rate? A. $670.43   
B. $842.41   
C. $1,522.64
D. $1,348.48   
E. $1,169.56
4).  The Shelby Cobra retails for $47,684 (all taxes included). What are the monthly loan
payments for the car if you make a down payment of $4,001, the term is 5 years and the APR is
6.5%? (Car loan payments are made at the end of each month.)
What is the amount of the monthly payment?
$
  
(Type a number to the nearest cent.) 5). You just took out a $12,000 loan for your small business. The loan has a four-year term and
repayment is in the form of four equal end−of−year payments. The interest rate on the loan is
11.5%. Consider the final loan payment. How much interest do you pay in the final payment?
A. $403.20
B. $1,089.13
C. $764.81
D. $350.61
E. $1,380.00
6). Three years from now you will begin receiving annual payments of $7,200. This will continue for 14
years. At a discount rate of 5.8%, what is the present value of this stream of cash flows? A. $51,253.11
B. $54,523.00
C. $64,045.86
D. $57,216.29
E. $60,534.84
7). You just graduated and you expect to work for ten years and then to leave for the Australian "Outback"
bush country. You figure you can save $1,000 a year for the first five years and $2,000 a year for the next
five years. These savings cash flows will start one year from now. In addition, your family has just given
you a $5,000 graduation gift. If you put the gift now and your future savings when they start, into an
account that pays 8% compoundedannually, what will your financial "stake" be when you leave for
Australia 10 years from now. (Round to the nearest whole dollar) A. $16,651    
B. $28,393   
C. $31,148   
D. $20,000
E. $21,432
8). The time value concept/calculation used in amortizing a loan is:
A. Present value of an annuity
B. Future value of a dollar
C. Present value of a dollar    
D. Future value of an annuity
9). The present value of a $25,000 perpetuity at a 14 percent discount rate is: (Round to the
nearest whole dollar)
A. $285,000   
B. $350,000   
C. $219,298
D. $178,571 
10). You just took out a $12,000 loan for your small business. The loan has a four year term and
repayment is in the form of four equal end−of−year payments. The interest rate on the loan is 11.5%.
What are your annual loan payments? A. $3,246.84
B. $3,144.83
C. $3,909.29
D. $3,867.92
E. $3,287.78

 


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