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Free CFA-Level-I Exam Braindumps (page: 128)

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PDF with 3963 Questions

What semiannual deposit is needed to accumulate $8,000 in 5 years if the account pays 7% per year, compounded semiannually, assuming that the first deposit is made in 6 months and also assuming that the account already has $1,250 in it today?

  1. $336.15
  2. $677.44
  3. $559.52
  4. $278.01
  5. $531.63

Answer(s): E

Explanation:

On the BAII Plus, press 10 N, 7 divide 2 = I/Y, 1250 PV, 8000 +/- FV, CPT PMT. On the HP12C, press 10 n, 7 ENTER 2 divide i, 1250 PV, 8000 CHS FV, PMT. Note that the answer this time is a positive number. This means that the $531.63 is a deposit in addition to the $1,250 original deposit. The $5,000 is entered as a negative number, because the $1,250 and the $531.63 are deposits and the $8,000 is a withdrawal. Make sure the BAII Plus has the value of P/Y set to 1.



A variable, W, is normally distributed with a mean of 12. 68% of its observations lie between 8 and 16. The coefficient of variation of W is ________.

  1. 0.66
  2. 1.5
  3. 3.0
  4. 0.33

Answer(s): D

Explanation:

For a normal distribution, 68% of the observations lie within one standard deviation of the mean. Hence, the standard deviation of X equals 12-8 = 4. The coefficient of variation is then equal to standard deviation/mean = 4/12 = 0.33.



If you buy an item and pay for it with 48 monthly payments of $75, beginning next month, what was the cash price today, if interest accrues at 13% per year, compounded monthly?

  1. $575.29
  2. $44.71
  3. $2,795.64
  4. $2,904.12
  5. $2,598.42

Answer(s): C

Explanation:

The cash price would be the present value of the payments made using the specified interest rate. On the BAII Plus, press 48 N, 13 divide 12 = I/Y, 75 PMT, 0 FV, CPT PV. On the HP12C, press 48 n, 13 ENTER 12 divide i, 75 PMT, 0 FV, PV. Note that the answer will be shown as a negative number. Make sure the BAII Plus has the P/Y value set to 1.



A histogram is best described as:

  1. a collection of frequency classes in which the raw data are arranged.
  2. a bar chart of relative frequencies.
  3. a scatter plot of the raw data on the X-Y plane.
  4. a visual representation of a frequency distribution.

Answer(s): D

Explanation:

A histogram is best described as a visual representation of a frequency distribution.






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