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You deposited $8,000 in your bank account today Answer

You deposited $8,000 in your bank account today Answer

You deposited $8,000 in your bank account today Answer

 

4. (TCO 3) You deposited $8,000 in your bank account today. An increase in which of the following will increase the future value of your deposit assuming that all interest is reinvested? Assume the interest rate is a positive value. Select all answers that apply: (Points : 4)
interest rate
initial amount of your deposit
frequency of the interest payments
None of the above will increase the value of the investment

Question 5. (TCO 3) If you borrow $50,000 today at 10% interest for eight years. How much of your second payment will be applied towards the principal of the loan? (Points : 3)
$5,000
$4,372
$4,809
can not be determined with the information given

Question 6. (TCO 3) Match the following terms with the examples as appropriate:
(Points : 4)

Potential Matches:
1 : You obtained a business loan for four months. The loan will allow you to paid $300 in interest for three months and a final payment of interest and principal at the end of the four month.
Interest-only Loan

2 : You obtained a mortgage to buy a home. You will pay $800 per month to cover both interest and principal.
Amortized Loan

3 : a way used by the US government to borrow money on short-term basis.
Treasury Bill

4 : You borrow $1,000 from your best friend. In return, you will give him back $1150 in 3 months.
Pure discount loan

7. (TCO 3) You are interested in saving to buy a new machine that costs $3,700. You can deposit $1,941 in your bank today. If your bank pays 5% annual interest on its accounts, how long will it take you to save for the new machine? (Points : 4)
about 13 years
about 4.5 years
about 2 years
Can not be determined

 

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 You deposited $8,000 in your bank account today Answer

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