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please answers these questions first that’s step 1 this assignment is two step I’m going to post the questions please finish that first and next I will put the last step here are the instructions:

## Question 1 (1 point)

Saved

What is the simple interest earned on a 1-year \$300 deposit that earns 5% per year?

Question 1 options:

 a) \$25

 b) \$76

 c) \$15

 d) \$40

 e) \$98

## Question 2 (1 point)

Saved

What is the rate of interest charged by a lender?

 a) Discounted

 b) Continuous

 c) Effective

 d) Nominal

## Question 3 (1 point

What is the amount of money that would have to be deposited today to obtain a specified amount at a later dat

 a) Future value interest factor

 b) Present value interest factor

 c) Present value

 d) Future value

## Question 4

A college received a contribution to its endowment fund of \$3 million. They can never touch the principal, but they can use the earnings. At an assumed interest rate of 8.5%, how much can the college earn each year?

Question 4 options:

 a) \$150,000

 b) \$36,000

 c) \$255,000

 d) \$200,000

 e) \$15,000

## Question 5

If you deposit \$1,200 into an account today that pays 6% interest compounded semiannually, after 25 years how much interest would you have earned?

Question 5 options:

 a) \$5,260.69

 b) \$4,060.69

 c) \$3,950.24

 d) \$1,312.53

 e) \$20,904.19

## Question 6 (1 point)

The cost of a bacon cheeseburger was \$.99. If the price of this sandwich increased at a 3% annual rate over the last five years, what would the price be today?

Question 6 options:

 a) \$ .84

 b) \$1.12

 c) \$1.22

 d) \$1.15

 e) \$1.02

## Question 7 (1 point)

How many years will it take to triple a value given an effective annual interest rate of 20%? (Round to the closest year.)

Question 7 options:

 a) 6

 b) 8

 c) 5

 d) 11

 e) 3

## Question 8 (1 point)

How many years will it take to triple an amount if you have \$6,000 invested at a rate of 15%? (Round up to obtain a whole number of years if necessary.)

Question 8 options:

 a) 3

 b) 8

 c) 9

 d) 8

 e) 11

## Question 9 (1 point)

A credit union advertises a nominal annual rate of 13.7% on a car loan. Interest is compounded monthly. What is the effective interest rate?

Question 9 options:

 a) 15.00%

 b) 14.59%

 c) 10.00%

 d) 12.00%

## Question 10 (1 point)

What is the present value of an amount given the following information?
Number of compounding years = 2
FV deposit = \$200
Nominal Interest rate = 9%
Deposit periods in years = 21

Question 10 options:

 a) \$25.65

 b) \$38.19

 c) \$31.49

 d) \$45.20

## Question 11 (1 point)

The discount rate on this mixed stream of cash flows is 10%. What is the present value given this data?
Year 1 Cash flow stream = \$7,000
Year 2 Cash flow stream = \$3,000
Year 3 Cash flow stream = \$6,000

Question 11 options:

 a) \$13,350.86

 b) \$15,321.56

 c) \$12,432.00

 d) \$14,321.78

## Question 12 (1 point)

What is the difference between simple and compound interest?

Question 12 options:

 a) Simple interest is only paid at the end of the investment period.

 b) Compound interest is paid up front and not when the investment matures.

 c) Simple interest earns a higher interest rate on reinvested than compound interest.

 d) Compound interest entails receiving interest payments on previously earned interest.

 e) Simple interest is not taxed by the federal government.

## Question 13 (1 point)

The bank loaned you \$20,000 for a new car. The signed agreement states 60 monthly payments at \$444.89. What is the effective rate on the car loan?

Question 13 options:

 a) 15.34%

 b) 12.68%

 c) 13.56%

 d) 11.34%

## Question 14 (1 point)

What is the future value of \$200 deposited today at 8% compounded semiannually for three years?

Question 14 options:

 a) \$253

 b) \$165

 c) \$380

 d) \$248

 e) \$232

## Question 15 (1 point)

The rate on a mixed stream of cash flows is 12%. \$1,200 at the beginning of year 1, \$2,200 at the beginning of year 2, and \$3,300 at the beginning of year 3. What is the future value of all cash flows?

Question 15 options:

 a) \$7,700

 b) \$8,141

 c) \$10,510

 d) \$6,504

 e) \$17,000