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Edit this Question Delete this Question0 multiple_choice_question 757723You were recently admitted to college, and your Aunt Tillie has agreed to fund the tuition for your education. The admissions representative at your college says that tuition might rise approximately 5 percent per year. Aunt Tillie has agreed to deposit a lump sum today that will cover your tuition for four years, but she needs to know the amount of the initial deposit.
Your aunt
is no longer able to take care of herself, so she also wants to set aside a lump sum of money to pay her rent in an assisted-living facility for the next three years. The facility has agreed not to raise her rent, if she signs a three year lease upfront.
It's now four years later, and thanks to your aunt's generosity, you have graduated from college. She has offered to lend you the money to buy your first, new car. You are interested in calculating the payment amount on a $35,000 car loan at 6 percent for five years. She has also agreed to accept five annual payments instead of monthly payments.
It seems there's no end to Aunt Tillie's generosity. She has now agreed to loan you $10,000 for the down payment on a home. You have decided to structure the loan, so that the payment amount remains constant through the term of the contract and you can budget for a consistent loan payment each month.
With regard to the loan for a down payment on your
mortgage, what drawback exists with the loan you want compared to a loan in which payments decrease through the term of the loan?
this Question" href="https://ashford.instructure.com/courses/7050/quizzes/25235/take#">Delete this Question0 multiple_choice_question 757714 If you invested $1000 today at a rate of 5% for five years, and periodically you withdrew the interest earned, what type of interest is calculated for during the term of the investment?
href="https://ashford.instructure.com/courses/7050/quizzes/25235/take#">Flag this QuestionQuestion 3 1 pts Edit this Question Delete this Question0 multiple_choice_question 757720
You were recently admitted to college, and your Aunt Tillie has agreed to fund the tuition for your education. The admissions representative at your college says that tuition might rise approximately 5 percent per year. Aunt Tillie has agreed to deposit a lump sum today that will cover your tuition for four years, but she needs to
know the amount of the initial deposit.
Your aunt is no longer able to take care of herself, so she also wants to set aside a lump sum of money to pay her rent in an assisted-living facility for the next three years. The facility has agreed not to raise her rent, if she signs a three year lease upfront.
It's now four years later, and thanks to your aunt's generosity, you have graduated from college. She has offered to lend you the money to buy your first, new car. You are interested in calculating the payment amount on a $35,000 car loan at 6 percent for five years. She has also agreed to accept five annual payments instead of monthly payments.
It seems there's no end to Aunt Tillie's generosity. She has now agreed to loan you $10,000 for the down payment on a home. You have decided to structure the loan, so that the payment amount remains constant through the term of the contract and you can budget for a consistent loan payment each
month.
Which of the following calculations should you use to determine the initial deposit amount to pay for her expenses in the assisted-living facility?
class="delete_question_link no-hover" title="Delete this Question" href="https://ashford.instructure.com/courses/7050/quizzes/25235/take#">Delete this Question0 multiple_choice_question 757722
You were recently admitted to college, and your Aunt Tillie has agreed to fund the tuition for your education. The admissions representative at your college says that tuition might rise approximately 5 percent per year. Aunt Tillie has agreed to deposit a lump sum today that will cover your tuition for four years, but she needs to know the amount of the initial deposit.
Your aunt is no longer able to take care of herself, so she also wants to set aside a lump sum of money to pay her rent in an assisted-living facility for the next three years. The facility has agreed not to raise her rent, if she signs a three year lease
upfront.
It's now four years later, and thanks to your aunt's generosity, you have graduated from college. She has offered to lend you the money to buy your first, new car. You are interested in calculating the payment amount on a $35,000 car loan at 6 percent for five years. She has also agreed to accept five annual payments instead of monthly payments.
It seems there's no end to Aunt Tillie's generosity. She has now agreed to loan you $10,000 for the down payment on a home. You have decided to structure the loan, so that the payment amount remains constant through the term of the contract and you can budget for a consistent loan payment each month.
What should you keep in mind if Aunt Tillie asks your opinion about two different annuities she is considering as an
investment?
Question0 multiple_choice_question 757719
You were recently admitted to college, and your Aunt Tillie has agreed to fund the tuition for your education. The admissions representative at your college says that tuition might rise approximately 5 percent per year. Aunt Tillie has agreed to deposit a lump sum today that will cover your tuition for four years, but she needs to know the amount of the initial deposit.
Your aunt is no longer able to take care of herself, so she also wants to set aside a lump sum of money to pay her rent in an assisted-living facility for the next three years. The facility has agreed not to raise her rent, if she signs a three year lease upfront.
It's now four years later, and thanks to your aunt's generosity, you have graduated from college. She has offered to lend you the money to buy your
first, new car. You are interested in calculating the payment amount on a $35,000 car loan at 6 percent for five years. She has also agreed to accept five annual payments instead of monthly payments.
It seems there's no end to Aunt Tillie's generosity. She has now agreed to loan you $10,000 for the down payment on a home. You have decided to structure the loan, so that the payment amount remains constant through the term of the contract and you can budget for a consistent loan payment each month.
If Aunt Tillie also wants to reward you with a graduation gift of cash and she deposits $1,000 in an account at the end of each year for the next four years, for how many years will the money earn interest?
name="question_523919">Move To... This element is a more accessible alternative to drag & drop reordering. Press Enter or Space to move this question. Flag this QuestionQuestion 6 1 pts Edit this Question Delete this Question0 multiple_choice_question 757721
You were recently admitted to college, and your Aunt Tillie has
agreed to fund the tuition for your education. The admissions representative at your college says that tuition might rise approximately 5 percent per year. Aunt Tillie has agreed to deposit a lump sum today that will cover your tuition for four years, but she needs to know the amount of the initial deposit.
Your aunt is no longer able to take care of herself, so she also wants to set aside a lump sum of money to pay her rent in an assisted-living facility for the next three years. The facility has agreed not to raise her rent, if she signs a three year lease upfront.
It's now four years later, and thanks to your aunt's generosity, you have graduated from college. She has offered to lend you the money to buy your first, new car. You are interested in calculating the payment amount on a $35,000 car loan at 6 percent for five years. She has also agreed to accept five annual payments instead of monthly payments.
It seems there's no end to Aunt Tillie's
generosity. She has now agreed to loan you $10,000 for the down payment on a home. You have decided to structure the loan, so that the payment amount remains constant through the term of the contract and you can budget for a consistent loan payment each month.
Which of the following formulas can be used to correctly calculate your annual loan payments to Aunt Tillie for the car loan?
QuestionQuestion 7 1 pts Edit this Question Delete this Question0 multiple_choice_question 757715 What is the relationship between an interest rate and a discount rate in time value of money calculations?
tabindex="0">Move To... This element is a more accessible alternative to drag & drop reordering. Press Enter or Space to move this question. Flag this QuestionQuestion 8 1 pts Edit this Question Delete this Question0 multiple_choice_question 757716 How does the element of time affect future and present value
calculations?
multiple_choice_question 757718
You were recently admitted to college, and your Aunt Tillie has agreed to fund the tuition for your education. The admissions representative at your college says that tuition might rise approximately 5 percent per year. Aunt Tillie has agreed to deposit a lump sum today that will cover your tuition for four years, but she needs to know the amount of the initial deposit.
Your aunt is no longer able to take care of herself, so she also wants to set aside a lump sum of money to pay her rent in an assisted-living facility for the next three years. The facility has agreed not to raise her rent, if she signs a three year lease upfront.
It's now four years later, and thanks to your aunt's generosity, you have graduated from college. She has offered to lend you the money to buy your first, new car. You
are interested in calculating the payment amount on a $35,000 car loan at 6 percent for five years. She has also agreed to accept five annual payments instead of monthly payments.
It seems there's no end to Aunt Tillie's generosity. She has now agreed to loan you $10,000 for the down payment on a home. You have decided to structure the loan, so that the payment amount remains constant through the term of the contract and you can budget for a consistent loan payment each month.
Which of the following calculations will you perform to determine the amount of the initial deposit necessary to fund your college education?
a more accessible alternative to drag & drop reordering. Press Enter or Space to move this question. Flag this QuestionQuestion 10 1 pts Edit this Question Delete this Question0 multiple_choice_question 757724 Which of the following factors affects the rate of return of an investment at
maturity?
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