Question Ted and carol are planning to provide for their 2 daughters future college tuition. The oldest daughter is expected to need $8000 in 8 years, $9000 in 9 years, $10000 in 10 years and $11000 in 11 years. The youngest daughter is expected to need $14000 in 14 years, $15000 in 15 years, $16000 in 16 […]
Question Which will be worth more in 20 years:$150 invested today at a rate of 9%$12 invested every year at a rate of 12% a) The $150 invested today will be worth $23.97 more in 15 years b) The $12 invested every year will be worth $23.97 more in 15 years c) The $150 invested […]
Question Bob has a goal to buy a $1.5 million beach house in 10 years. If he expects to make a 9% annual return, how much does he need to invest today to buy his beach house in 10 years? a) $720,000.00 b) $633,616.21 c) $677,368.72 d) $191,041.55 e) $112,800.00 Looking for a Similar […]
Question Which of the following statements about financial institutions is true?:a) An investment company’s primary source of funds is loans and its primary use of funds is securities b) An investment company’s primary source of funds is shares and its primary use of funds is loans c) Stock funds or equity funds involve more risk […]
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