## (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 - minusâˆ’ 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. \$240.42â€ƒâ€ƒâ€ƒâ€ƒ
B. \$346.87
C. \$300.20â€ƒâ€ƒâ€ƒ
D. \$315.38â€ƒâ€ƒâ€ƒ
E. \$263.80â€ƒ
3). What is the present value of a 5âˆ’year ordinary annuity with annual payments of \$200, evaluated at a
15 percent interest rate? A. \$670.43â€ƒâ€ƒâ€ƒ
B. \$842.41â€ƒâ€ƒâ€ƒ
C. \$1,522.64
D. \$1,348.48â€ƒâ€ƒâ€ƒ
E. \$1,169.56
4). â€ƒThe 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?
\$
â€ƒâ€ƒ
(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 endâˆ’ofâˆ’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 &quot;Outback&quot;
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
account that pays 8% compoundedannually, what will your financial &quot;stake&quot; be when you leave for
Australia 10 years from now. (Round to the nearest whole dollar) A. \$16,651â€ƒâ€ƒâ€ƒâ€ƒ
B. \$28,393â€ƒâ€ƒâ€ƒ
C. \$31,148â€ƒâ€ƒâ€ƒ
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 dollarâ€ƒâ€ƒâ€ƒâ€ƒ
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. \$285,000â€ƒâ€ƒâ€ƒ
B. \$350,000â€ƒâ€ƒâ€ƒ
C. \$219,298
D. \$178,571â€ƒ
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 endâˆ’ofâˆ’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

Solution details:
STATUS
QUALITY
Approved

This question was answered on: Sep 05, 2019

Solution~000200051359.zip (25.37 KB)

This attachment is locked

We have a ready expert answer for this paper which you can use for in-depth understanding, research editing or paraphrasing. You can buy it or order for a fresh, original and plagiarism-free copy from our tutoring website www.aceyourhomework.com (Deadline assured. Flexible pricing. TurnItIn Report provided)

STATUS

QUALITY

Approved

Sep 05, 2019

EXPERT

Tutor