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(Solved) Unit III Assessment BBA 3301 - Financial Management 1. Much to your surprise, you were selected to appear on the TV show, "The Price is


  1. Unit III - Financial Management
  2. How much do you have to deposit today so that, beginning 11 years from now, you can withdraw $9,000 a year for the next 8 years (periods 11 through 18) plus an additional amount of $18,000 in the last year (period 18)? Assume an interest rate of 6%.

Unit III Assessment
BBA 3301 – Financial Management
1. Much to your surprise, you were selected to appear on the TV show, "The Price is Right." As a
result of your prowess in identifying how many rolls of toilet paper an average American
family keeps on hand, you win the opportunity to choose one of the following: $2,000 today,
$10,000 in 10 years, or $31,000 in 29 years. Assuming you can earn 12% on your money, which
should you choose?
2. After placing $13,000 in a savings account paying annual compound interest of 3%, Leona will
accumulate what amount if she leaves the money in the bank for 4 years?
3. After placing $13,000 in a savings account paying annual compound interest of 3%, Leona will
accumulate what amount if she leaves the money in the bank for 4 years?
4. After placing $13,000 in a savings account paying annual compound interest of 3%, Leona will
accumulate what amount if she leaves the money in the bank for 4 years?
5. How much do you have to deposit today so that, beginning 11 years from now, you can
withdraw $9,000 a year for the next 8 years (periods 11 through 18) plus an additional amount
of $18,000 in the last year (period 18)? Assume an interest rate of 6%.

 


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