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Question 1: What would you pay for an investment that pays you $3900000 after thirty years? Assume that the relevant interest rate for this type of investment is 9%.
$1070706.
$293943.
$325728.
$107055.
Question 2: Al Darby wants to withdraw $20500 (including principal) from an investment fund at the end of each year for five years. How should he compute his required initial investment at the beginning of the first year if the fund earns 11% compounded annually?
$20500 divided by the present value of a 5-year, 11% ordinary annuity of 1.
$20500 times the future value of a 5-year, 11% ordinary annuity of 1.
$20500 divided by the future value of a 5-year, 11% ordinary annuity of 1.
$20500 times the present value of a 5-year, 11% ordinary annuity of 1.
Question 3: Carla Vista Corp. has annual sales totaling $1254000 and an average gross profit of 20% of cost. What is the dollar amount of the gross profit?
$313500.
$250800.
$188100.
$209000.
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