Find the present value of the annuity. Round to the nearest cent.
33)
Payments of $50,000 made semiannually for 12 years at 5% compounded semiannually
33)
A)
$443,162.50
B)
$866,605.50
C)
$945,696.50
D)
$894,249.50
Use the given bond table to find the requested value for Solar Energy (SNG) bonds maturing in 2022.
COMPANY (TICKER) COUPON MATURITY
LAST
PRICE
LAST
YIELD
EST $ VOL
(000′s)
Solar Energy (SNG) 4.800 Dec 15, 2018 104.894 3.438 30,590
Solar Energy (SNG) 5.750 Jun 15, 2022 106.626 4.550 30,045
Solar Power (SPR) 4.625 Dec 15, 2022 101.951 5.050 30,985
34)
Last yield or yield to maturity
34)
A)
45.5%
B)
4.55%
C)
5.05%
D)
3.438%
Solve the application problem. Round to the nearest cent.
35)
Gretta wants to retire in 13 years. At that time she wants to be able to withdraw $12,500 at the end
of each 6 months for 7 years. Assume that money can be deposited at 8% per year compounded
semiannually. What exact amount will Gretta need in 13 years?
35)
A)
$124,820.63
B)
$492,961.00
C)
$132,039.00
D)
$138,979.88
Solve the application problem. Round to the nearest cent.
36)
Green Thumb Landscaping wants to build a $108,000 greenhouse in 2 years. The company sets up
a sinking fund with payments made quarterly. Find the payment into this fund if the money earns
8% compounded quarterly.
36)
A)
$14,527.08
B)
$12,583.08
C)
$53,465.40
D)
$10,153.08
Find the cost, including a sales charge of $1 per bond, for the transaction.
37)
Bond: PSQ
Last Price: 62.750
Number Purchased: 30
37)
A)
$18,855.00
B)
$18,825.00
C)
$6275.00
D)
$29,970.00
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
38)
$5400, money earns 10% compounded semiannually, 6 years
38)
A)
$699.89
B)
$429.30
C)
$793.91
D)
$339.28
Solve the problem. Refer to the table if necessary.
39)
Susan Smith bought 134 shares of Allied Steel at $76.75 per share and 76 shares of Household Bank
at $23.50 per share. Find the total amount that she paid, ignoring broker’s commissions.
39)
A)
$11,891.90
B)
$12,606.30
C)
$12,070.50
D)
$11,981.20
Find the amount of the ordinary annuity rounded to the nearest cent.
40)
Amount of Each Deposit Deposited Rate Time (Years)
$4500 quarterly 8% 7
40)
A)
$391,730.45
B)
$166,730.45
C)
$159,049.46
D)
$89,261.68
Find the present value of the annuity. Round to the nearest cent.
41)
Payments of $420 made annually for 13 years at 6% compounded annually
41)
A)
$3718.13
B)
$3903.90
C)
$3716.79
D)
$3521.20
Find the amount of the annuity due rounded to the nearest cent.
42)
Amount of Each Deposit Deposited Rate Time (Years)
$800 annually 4% 13
42)
A)
$13,833.53
B)
$12,501.47
C)
$32,501.47
D)
$11,220.64
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
43)
$6000, money earns 6% compounded quarterly, 4 years
43)
A)
$674.76
B)
$334.62
C)
$1107.78
D)
$1371.54
Find the amount of the ordinary annuity rounded to the nearest cent.
44)
Amount of Each Deposit Deposited Rate Time (Years)
$3200 annually 10% 9
44)
A)
$43,454.34
B)
$36,594.84
C)
$75,454.33
D)
$68,594.84
Find the amount of each payment needed to accumulate the indicated amount in a sinking fund. Round to the nearest
cent.
45)
$6400, money earns 8% compounded annually, 10 years
45)
A)
$384.51
B)
$485.57
C)
$512.51
D)
$441.79
Find the requested value using the given stock table.
52 –Wk Tick Vol. Week’s Div YTD
High Low Name Sym. 100s Yld. P/E Last Chg. Amt % CHG
38.42 12.54 CommercialAir CMA 17718 3.1 21 31.68 +1.28 2.04 67.1
9.77 1.06 CommSource CSC 5263 .8 12 4.81 +0.23 .68 148.2
33.57 15.38 CompuStrateg CPS 6581 1.6 35 17.49 –0.05 .44 4.4
83.23 39.76 ComputerSolns CSL 23006 .7 24 80.11 +1.42 1.31 35.7
46)
Dividend for CompuStrateg (CPS)
46)
A)
$1.31
B)
$0.68
C)
$0.44
D)
$1.60
Find the amount of the annuity due rounded to the nearest cent.
47)
Amount of Each Deposit Deposited Rate Time (Years)
$9600 annually 5% 5
47)
A)
$55,698.34
B)
$43,446.06
C)
$31,777.20
D)
$235,446.06
Solve the problem. Refer to the table if necessary.
48)
Sam Rush bought 191 shares of ABC Electronics at $16.50 per share and 428 shares of Wisconsin
Power at $46.50 per share, and 90 shares of Peter’s Manufacturing at 29 per share. Find the total
amount that he paid, ignoring broker’s commissions.
48)
A)
$28,229.85
B)
$25,666.07
C)
$25,663.50
D)
$25,689.16
Find the amount of the ordinary annuity rounded to the nearest cent.
49)
Amount of Each Deposit Deposited Rate Time (Years)
$7700 semiannually 10%15
49)
A)
$292,407.37
B)
$479,884.88
C)
$665,579.13
D)
$511,579.15
Find the cost, including a sales charge of $1 per bond, for the transaction.
50)
Bond: TSB
Last Price: 91.125
Number Purchased: 92
50)
A)
$83,927.00
B)
$91,908.00
C)
$91,875.00
D)
$83,835.00