1. Josh Collins plans to buy a house for $ 252,000. If that real estate is expected to increase in value by 5 percent each year, what will its approximate value be six years from now? Use Exhibit 1-A . (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
2. Pete Morton is planning to go to graduate school in a program of study that will take three years. Pete wants to have $11,700 available each year for various school and living expenses. If he earns 8 percent on his money, how much must be deposited at the start of his studies to be able to withdraw $11.700 a year for three years? Use Exhibit 1-D. (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
3. If a person spends $15 a week on coffee (assume $750 a year), what would be the future value of that amount over 8 years if the funds were deposited in an account earning 3 percent ? Use Exhibit 1-8 . (Round time value factor to 3 decimal places and final answer to 2 decimal places.
4. In 2013, selected automobiles had an average cost of $12,000. The average cost of those same automobiles is now $19,200. What was the rate of increase for these automobiles between the two time periods? Enter your answer as a percent rounded to the nearest whole number.)
5. Carla Lopez deposits $4,200 a year into her retirement account. If these funds have an average earning of 6 percent over the 40 years until her retirement, what will be the value of her retirement account? Use Exhibit 1-B (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
6. A family spends $32,000 a year for living expenses. If prices increase by 4 percent a year for the next three years what amount will the family need for their living expenses after three years? Use Exhibit 1. ( Round time value factor to 3 decimal places and final answer to the nearest whole number.)
2. Pete Morton is planning to go to graduate school in a program of study that will take three years. Pete wants to have $11,700 available each year for various school and living expenses. If he earns 8 percent on his money, how much must be deposited at the start of his studies to be able to withdraw $11.700 a year for three years? Use Exhibit 1-D. (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
3. If a person spends $15 a week on coffee (assume $750 a year), what would be the future value of that amount over 8 years if the funds were deposited in an account earning 3 percent ? Use Exhibit 1-8 . (Round time value factor to 3 decimal places and final answer to 2 decimal places.
4. In 2013, selected automobiles had an average cost of $12,000. The average cost of those same automobiles is now $19,200. What was the rate of increase for these automobiles between the two time periods? Enter your answer as a percent rounded to the nearest whole number.)
5. Carla Lopez deposits $4,200 a year into her retirement account. If these funds have an average earning of 6 percent over the 40 years until her retirement, what will be the value of her retirement account? Use Exhibit 1-B (Round time value factor to 3 decimal places and final answer to the nearest whole number.)
6. A family spends $32,000 a year for living expenses. If prices increase by 4 percent a year for the next three years what amount will the family need for their living expenses after three years? Use Exhibit 1. ( Round time value factor to 3 decimal places and final answer to the nearest whole number.)
