ANSWER ALL QUESTIONS PLEASE
1. Suppose that in Bellefonte, 35% of new investment spending is re-spent within the region. What the maximum economic impact of a $16141 investment in the local museum? Round your answer to the nearest $100.
2. Suppose that 30.6% of every dollar invested in a new baseball stadium is re-spent in the community. What percent of the maximum economic impact is attained during the first 3 years after an investment is made? Your final answer should be reported as a percent, to one decimal place. For example if you compute the answer to be 0.0568, you would enter 5.7 (meaning 5.7%).
3. Suppose that you wish to have $1738954 in an investment account after 17 years, by making deposits from your biweekly paycheck (26 times per year). If the annual interest rate on your investment account is 2.6% and your total salary for the year is $154208, what should your deposits be, as a percentage of your gross paycheck amount? Use the totaI salary per paycheck. It is not necessary to consider FICA or tax withholding amounts for this question. Your final answer should be reported as a percent, to one decimal place. For example if you compute the answer to be 0.0568, you would enter 5.7 (meaning 5.7%).
4. Suppose you deposit $228 every week in an account with an annual interest rate of 5.65%. What will be the value of the account after 20 years? Round your final answer to the nearest $1000
5.The Williamsport Little League Commission has taken out a 6-year loan for $210285 to finance upgrades to its stadium. The loan carries an interest rate of 5.2%, compounded annually. The loan will be paid off in full at maturity. The Commission is setting aside funds each quarter in an account that earns an annual interest rate of 5.6%. Calculate the amount the Commission should deposit quarterly (4 times per year) in order to have enough to pay off the loan in full at the maturity date. Round your answer to the nearest $100
6. Tom has saved up $1234250 in his retirement account, and intends to live off of this money for the next 21 years. If his account continues to earn 4.3% interest, how much can he afford to withdraw each week? Round your answer to the nearest $100
7.Maggie took out a mortgage for $257662 with a 5.73% annual interest rate that lasts 30 years and requires monthly payments. How much interest will Maggie pay on her mortgage? Round your answer to the nearest $1000
8.When Carl bought his car, he took out a 9-year loan auto loan for $26479. The loan has a 6.5% annual interest rate and has monthly payments. If Carl now has 1 year(s) of payments remaining, how much does he still owe on this loan? Round your answer to the nearest $100.
9.Marilynne retires with so much money in her bank account, she can afford to withdraw $2901 every week for 22 years (after which the account would be empty). If her account offers a compound interest rate of 3.3%, how much will she earn in interest between the second and third withdrawal? Assume that payments are made at the end of each week. Round your answer to the nearest dollar.
10. A married couple wants to buy a $272047 house. They can afford to put $55158 down toward the house. For the remaining amount, they will take out a 30 year loan (with monthly payments). Based on their credit rating, the bank offers them an annual rate of 13.9%. When there are 5 years left in the loan, they realize they can pay their remaining balance all at once. How much in interest would they avoid paying by doing this? Round your answer to the nearest $100
11. Jefferson Springs has a local sales tax rate of 2.3%. The state sales tax is an additional 5.3%. Local resident and tax expert, Candice B. Wright, spent a total of $11062 in Jefferson Springs last year (including tax). Calculate the amount of sales tax that Candice paid last year. Round your answer to the nearest $10
12. In 2016, Rose has a gross annual income of $87503 and is paid biweekly. Rose is single and claims two exemptions. Calculate Rose's net paycheck after withholdings for Federal income tax and FICA taxes are accounted for. Refer to the Exam 2 Formula sheet for the biweekly tax withholding tables, exemption amounts, and FICA tax rates. Round your answer to the nearest $100.
13. Matt and Pat are married with 5 children. They are jointly filing a tax return and have a gross annual income of $82888 in 2016; this year they paid $4303 in state and local taxes, $3997 in mortgage interest, and gave $3457 to charity. What is Matt and Pat's taxable income? Refer to the Exam 2 Formula Sheet for information on Exemptions and Standard Deductions. Round your answer to the nearest $100
14. Jim, Tim, and Kim start a company. Their total profits for last year were $54881. They distribute their profits unequally with a total of 40 parts. If Jim earned 30% of the profits and Tim earned 20% of the profits, how much money did Kim earn in profits? Round your answer to the nearest $100.
15. Suppose that 24 years ago, Annex, Inc's stock price was $17.32 per share. Since that time, the stock has split on two different occasions. In the first case, the stock split 3:1 and in the second case, the stock split 3:1. Annex, Inc stock is currently priced at $28.79 per share. Calculate the average annual (compound) rate of return for the capital gain on Annex, Inc stock over this time period. Enter your answer as a percent, to one decimal place. For example, if your answer is 0.0568, you would answer 5.7 (meaning 5.7 percent)
16. Suppose that this quarter Pentasonic, Inc has announced a dividend of $2.96 billion to be paid out to its shareholders. Pentasonic, Inc has 11.34 billion shares of stock outstanding. If you own 1997 shares of Pentasonic stock, what will be the amount of your quarterly dividend? Round your answer to the nearest $10 The federal government is auctioning off 26-year bonds; these bonds have a par value of $10000, a coupon rate of 6.45%, and interest is paid semiannually. If you buy one of these bonds for $10583, what is the current yield of the bond? Your answer should be a percent rounded to 2 decimal places, i.e. an answer of 7.54 means 7.54%.
17. Aberdasher Inc. is issuing a $2000 par value bond with a coupon rate of 5.4% and a term of 11 years. If you buy the bond for $2100 and interest is paid monthly, how much total interest will you receive from this bond? Round your answer to the nearest $1.
18. Three years ago, you made a $5818 investment in a mutual fund. Today it is worth $6278. If your rate of return during the third year was 6.0% and your rate of return during the first year was 6.9%, calculate your rate of return during the second year. Your final answer should be reported as a percent, to one decimal place. For example if you compute the answer to be 0.0568, you would enter 5.7 (meaning 5.7%).
19. The total asset value of the Morningstar Mutual Fund is $3847321 and there are a total of 659371 shares. If the fund charges a 5% load and if I invest $6201, how many shares will I own? Round your answer to the nearest share.
ANSWER ALL QUESTIONS PLEASE
1. Suppose that in Bellefonte, 35% of new investment spending is re-spent within the region. What the maximum economic impact of a $16141 investment in the local museum? Round your answer to the nearest $100.
2. Suppose that 30.6% of every dollar invested in a new baseball stadium is re-spent in the community. What percent of the maximum economic impact is attained during the first 3 years after an investment is made? Your final answer should be reported as a percent, to one decimal place. For example if you compute the answer to be 0.0568, you would enter 5.7 (meaning 5.7%).
3. Suppose that you wish to have $1738954 in an investment account after 17 years, by making deposits from your biweekly paycheck (26 times per year). If the annual interest rate on your investment account is 2.6% and your total salary for the year is $154208, what should your deposits be, as a percentage of your gross paycheck amount? Use the totaI salary per paycheck. It is not necessary to consider FICA or tax withholding amounts for this question. Your final answer should be reported as a percent, to one decimal place. For example if you compute the answer to be 0.0568, you would enter 5.7 (meaning 5.7%).
4. Suppose you deposit $228 every week in an account with an annual interest rate of 5.65%. What will be the value of the account after 20 years? Round your final answer to the nearest $1000
5.The Williamsport Little League Commission has taken out a 6-year loan for $210285 to finance upgrades to its stadium. The loan carries an interest rate of 5.2%, compounded annually. The loan will be paid off in full at maturity. The Commission is setting aside funds each quarter in an account that earns an annual interest rate of 5.6%. Calculate the amount the Commission should deposit quarterly (4 times per year) in order to have enough to pay off the loan in full at the maturity date. Round your answer to the nearest $100
6. Tom has saved up $1234250 in his retirement account, and intends to live off of this money for the next 21 years. If his account continues to earn 4.3% interest, how much can he afford to withdraw each week? Round your answer to the nearest $100
7.Maggie took out a mortgage for $257662 with a 5.73% annual interest rate that lasts 30 years and requires monthly payments. How much interest will Maggie pay on her mortgage? Round your answer to the nearest $1000
8.When Carl bought his car, he took out a 9-year loan auto loan for $26479. The loan has a 6.5% annual interest rate and has monthly payments. If Carl now has 1 year(s) of payments remaining, how much does he still owe on this loan? Round your answer to the nearest $100.
9.Marilynne retires with so much money in her bank account, she can afford to withdraw $2901 every week for 22 years (after which the account would be empty). If her account offers a compound interest rate of 3.3%, how much will she earn in interest between the second and third withdrawal? Assume that payments are made at the end of each week. Round your answer to the nearest dollar.
10. A married couple wants to buy a $272047 house. They can afford to put $55158 down toward the house. For the remaining amount, they will take out a 30 year loan (with monthly payments). Based on their credit rating, the bank offers them an annual rate of 13.9%. When there are 5 years left in the loan, they realize they can pay their remaining balance all at once. How much in interest would they avoid paying by doing this? Round your answer to the nearest $100
11. Jefferson Springs has a local sales tax rate of 2.3%. The state sales tax is an additional 5.3%. Local resident and tax expert, Candice B. Wright, spent a total of $11062 in Jefferson Springs last year (including tax). Calculate the amount of sales tax that Candice paid last year. Round your answer to the nearest $10
12. In 2016, Rose has a gross annual income of $87503 and is paid biweekly. Rose is single and claims two exemptions. Calculate Rose's net paycheck after withholdings for Federal income tax and FICA taxes are accounted for. Refer to the Exam 2 Formula sheet for the biweekly tax withholding tables, exemption amounts, and FICA tax rates. Round your answer to the nearest $100.
13. Matt and Pat are married with 5 children. They are jointly filing a tax return and have a gross annual income of $82888 in 2016; this year they paid $4303 in state and local taxes, $3997 in mortgage interest, and gave $3457 to charity. What is Matt and Pat's taxable income? Refer to the Exam 2 Formula Sheet for information on Exemptions and Standard Deductions. Round your answer to the nearest $100
14. Jim, Tim, and Kim start a company. Their total profits for last year were $54881. They distribute their profits unequally with a total of 40 parts. If Jim earned 30% of the profits and Tim earned 20% of the profits, how much money did Kim earn in profits? Round your answer to the nearest $100.
15. Suppose that 24 years ago, Annex, Inc's stock price was $17.32 per share. Since that time, the stock has split on two different occasions. In the first case, the stock split 3:1 and in the second case, the stock split 3:1. Annex, Inc stock is currently priced at $28.79 per share. Calculate the average annual (compound) rate of return for the capital gain on Annex, Inc stock over this time period. Enter your answer as a percent, to one decimal place. For example, if your answer is 0.0568, you would answer 5.7 (meaning 5.7 percent)
16. Suppose that this quarter Pentasonic, Inc has announced a dividend of $2.96 billion to be paid out to its shareholders. Pentasonic, Inc has 11.34 billion shares of stock outstanding. If you own 1997 shares of Pentasonic stock, what will be the amount of your quarterly dividend? Round your answer to the nearest $10 The federal government is auctioning off 26-year bonds; these bonds have a par value of $10000, a coupon rate of 6.45%, and interest is paid semiannually. If you buy one of these bonds for $10583, what is the current yield of the bond? Your answer should be a percent rounded to 2 decimal places, i.e. an answer of 7.54 means 7.54%.
17. Aberdasher Inc. is issuing a $2000 par value bond with a coupon rate of 5.4% and a term of 11 years. If you buy the bond for $2100 and interest is paid monthly, how much total interest will you receive from this bond? Round your answer to the nearest $1.
18. Three years ago, you made a $5818 investment in a mutual fund. Today it is worth $6278. If your rate of return during the third year was 6.0% and your rate of return during the first year was 6.9%, calculate your rate of return during the second year. Your final answer should be reported as a percent, to one decimal place. For example if you compute the answer to be 0.0568, you would enter 5.7 (meaning 5.7%).
19. The total asset value of the Morningstar Mutual Fund is $3847321 and there are a total of 659371 shares. If the fund charges a 5% load and if I invest $6201, how many shares will I own? Round your answer to the nearest share.
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