Answered step-by-stepQuestion 311 pts You invested $3,950 in an original Salvador...
Question 311 pts
You invested $3,950 in an original Salvador Dali 'melted clocks' painting 30 years ago. The painting has increased in value at a rate of 10% per year. How much is it worth now.
Group of answer choices
$70,456
$76,101
$68,925
$81,344
Flag question: Question 32Question 321 pts
You are trying to choose between two investments.
A - Invest $2,400 per year for 10 years, earning an 8% annual rate of interest. or,
B - Invest $200 per month for 10 years, earning 8% annual rate of interest.
Which of the following is most correct?
Group of answer choices
There is no way to tell which investment has the higher future value.
Investment A has the higher future value.
Investment B has the higher future value.
Investments A and B have identical future values.
Flag question: Question 33Question 331 pts
Your company's receivables turnover ratio decreases from 17 to 13. Which of the following best describes what has happened?
Group of answer choices
You are taking longer to collect your receivables.
Your company's sales have definitely increased.
Your company's sales have definitely decreased.
You are collecting your receivables more quickly.
Flag question: Question 34Question 341 pts
If your company acquires a large long-term debt, what is the corresponding change to the balance sheet?
Group of answer choices
Assets (cash) decrease and liabilities (LT debt) increase.
Assets (cash) increase and liabilities (LT debt) increase.
Assets (cash) increase and liabilities (LT debt) decrease.
Assets (cash) decrease and liabilities (LT debt) decrease.
Flag question: Question 35Question 351 pts
What is the present value (PV) of a series of payments of $225 per month for 20 years, discounted at a rate of 8% (annual)?
Group of answer choices
$26,899.72
$132,529.59
$54,000.00
$16,712.83
Flag question: Question 36Question 361 pts
Dave wants to have $1,500,000 on the day he retires (36 years from now). He is planning on earning 10.5% from his investments. How much will he need to invest per month, in order to reach his goal?
Group of answer choices
$311.75
$35,628.67
$1,267.55
$618.25
Flag question: Question 37Question 371 pts
What is the present value (PV) of a series of payments of $2,000 per month for 5 years, discounted at a rate of 7% (annual)?
Group of answer choices
$101,003.99
$143,185.80
$120,000.00
$88,132.82
Flag question: Question 38Question 381 pts
If you invest $325 per month for 31 years at 10.00% (annual), what is the future value (FV)?
Group of answer choices
$815,670.74
$120,900.00
$1,256,781.89
$567,811.81
Flag question: Question 39Question 391 pts
Jimbo plans to have $500,000 in a special retirement account when he retires in 22 years. If he plans to earn 10.5% on his investments, how much will he have to invest per month, in order to have the $500,000?
Group of answer choices
$487.54
$4,862.54
$1,893.94
$623.45
Flag question: Question 40Question 401 pts
You borrowed $200,000 to purchase a new home. How much is your monthly home mortgage payment if the annual interest rate is 4.5% and the number of years is 15?
Group of answer choices
$1,530
$1,314
$1,732
$835
Answer & Explanation
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