答案和详解如下： Q1. In 10 years, what is the value of $100 invested today at an interest rate of 8% per year, compounded monthly? A) $216. B) $222. C) $180. Correct answer is B) N = 10 × 12 = 120; I/Y = 8/12 = 0.666667; PV = –100; PMT = 0; CPT → FV = 221.96. Q2. If $1,000 is invested at the beginning of the year at an annual rate of 48%, compounded quarterly, what would that investment be worth at the end of the year? A) $1,048. B) $1,574. C) $4,798. Correct answer is B) N = 1 × 4 = 4; I/Y = 48/4 = 12; PMT = 0; PV = –1,000; CPT → FV = 1,573.52. Q3. Given: an 11% annual rate compounded quarterly for 2 years; compute the future value of $8,000 today. A) $9,939. B) $8,962. C) $9,857. Correct answer is A) Divide the interest rate by the number of compound periods and multiply the number of years by the number of compound periods. I = 11 / 4 = 2.75; N = (2)(4) = 8; PV = 8,000. Q4. Given: $1,000 investment, compounded monthly at 12% find the future value after one year. A) $1,121.35. B) $1,120.00. C) $1,126.83. Correct answer is C) Divide the interest rate by the number of compound periods and multiply the number of years by the number of compound periods. I = 12 / 12 = 1; N = (1)(12) = 12; PV = 1,000. Q5. What is the maximum price an investor should be willing to pay (today) for a 10 year annuity that will generate $500 per quarter (such payments to be made at the end of each quarter), given he wants to earn 12%, compounded quarterly? A) $6,440. B) $11,300. C) $11,557. Correct answer is C) Using a financial calculator: N = 10 × 4 = 40; I/Y = 12 / 4 = 3; PMT = -500; FV = 0; CPT → PV = 11,557. | 
发表于 2008-12-29 16:35
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