Test Bank for Focus on Personal Finance, 7th Edition by Jack R. Kapoor ISBN:9781260772371 ALL CHAPTERS COVERED
Solution Manual For Focus on Personal Finance: 2024 Release (8th edition) by Jack Kapoor, All Chapters 1 to 14 complete Verified editon ISBN:9781260772371
TEST BANK for Focus On Personal Finance 7th Edition by jack kapoor All Chapters 1 to 14 complete Verified editon ISBN:9781260772371
All for this textbook (38)
Written for
SM+TB
SM+TB
Seller
Follow
solutions
Reviews received
Content preview
Version 1 1 Test Bank for Focus on Personal Finance, 7th Edition Chapter 1-14 Answers are at the end of Each chapter Chapter 1 Student name:__________ 1) If inflation is expected to be 9.50 percent, how long will it take for prices to double? A) 5.58 years B) 6.58 years C) 17.58 years D) 11.58 years E) 7.58 years Question Details Bloom's : Apply Difficulty : 3 Hard Learning Objective : 01 -01 Identify social and economic influences on financial literacy and personal Topic : Financial Planning Topic : Finance and Economics Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Gradable : automatic 2) If a $12,000 investment earns interest of $1,560 in 1 year, what is its rate of return? 2) ______ A) 100 percent B) 79 percent C) 26 percent Version 1 2 D) 58 percent E) 13 percent Question Details Bloom's : Apply Difficulty : 3 Hard Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Gradable : automat ic Learning Objective : 01 -03 Calculate time value of money situations to analyze personal financial dec Topic : Time Value of Money 3) If a $10,000 investment earns a 3.8 percent annual return, what should its value be after 1 year? 3) ______ A) $10,000 B) $3,900 C) $10,380 D) $10,038 E) $3,800 Question Details Bloom's : Apply Difficulty : 3 Hard Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Gradable : automatic Learning Objective : 0 1-03 Calculate time value of money situations to analyze personal financial dec Topic : Time Value of Money 4) If a $10,000 investment earns a 7 percent annual return, what should its value be after 4 years? Use Exhibit 1 -A. 4) ______ Version 1 3 A) $13,110 B) $12,800 C) $10,700 D) $10,035 E) $14,700 Question Details Bloom's : Apply Difficulty : 3 Hard Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Gradable : automatic Learning Objective : 01 -03 C alculate time value of money situations to analyze personal financial dec Topic : Time Value of Money 5) If Melinda Miller estimates that her $350 weekly grocery bill will increase at an annual inflation rate of 3 percent, what should her we ekly grocery bill be in 2 years? Use Exhibit 1 -A. 5) ______ A) $70.00 B) $105.00 C) $371.35 D) $473.35 E) $380.45 Question Details Bloom's : Apply Difficulty : 3 Hard Accessibility : Keyboard Navigation Accessibility : Screen Rea der Compatible Gradable : automatic Learning Objective : 01 -03 Calculate time value of money situations to analyze personal financial dec Topic : Time Value of Money Version 1 4 6) If you deposit $500 into a certificate of deposit earning 3.8 percent, w hat would be your earnings after 12 months? 6) ______ A) $538.00 B) $500.00 C) $16.50 D) $21.50 E) $19.00 Question Details Bloom's : Apply Difficulty : 3 Hard Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Gradable : automatic Learning Objective : 01 -03 Calculate time value of money situations to analyze personal financial dec Topic : Time Value of Money 7) Randy Hill wants to retire in 25 years with $1,500,000. If he can earn 10 pe rcent per year on his investments, how much does he need to deposit each year to reach his goal? Use Exhibit 1-B. (Round your answer to the nearest dollar.) 7) ______ A) $15,252 B) $30,000 C) $60,000 D) $14,752 E) None of these choices a re correct.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller solutions. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £14.20. You're not tied to anything after your purchase.