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Free CFA-Level-I Exam Braindumps (page: 159)

Page 158 of 991
PDF with 3963 Questions

How many monthly deposits of $50, beginning next month, will you need to make into an account that pays 6% per year, compounded monthly, before you will have $20,000?

  1. 110.59
  2. 201.49
  3. 400.00
  4. 220.27
  5. 287.71

Answer(s): D

Explanation:

On the BAII Plus, press 6 divide 12 = I/Y, 0 PV, 50 PMT, 20000 +/- FV, CPT N. On the HP12C, press 6 ENTER 12 divide i, 0 PV, 50 PMT, 20000 CHS FV, n. Note that the HP12C will display 221 as the answer. Make sure the BAII Plus has the value of P/Y set to 1.



What annual interest rate, compounded annually, would cause a series of 10 deposits of $1,000 to accumulate to $18,000, if the first deposit is made one year from today?

  1. 14.49%
  2. 12.52%
  3. 12.69%
  4. 11.84%
  5. 35.82%

Answer(s): B

Explanation:

On the BAII Plus, press 10 N, 0 PV, 1000 PMT, 18000 +/- FV, CPT I/Y. On the HP12C, press 10 n, 0 PV, 1000 PMT, 18000 CHS FV, i. Make sure that the BAII Plus has the P/Y value set to 1.



What is the remaining balance on a $90,000 loan after making monthly payments of $660.39 for 10 years, if the interest rate is 8% per year, compounded monthly?

  1. $51,948.80
  2. $81,343.92
  3. $0
  4. $76,204.11
  5. $78,951.89

Answer(s): E

Explanation:

On the BAII Plus, press 120 N, 8 divide 12 = I/Y, 90000 PV, 660.39 +/- PMT, CPT FV. On the HP12C, press 120 n, 8 ENTER 12 divide i, 90000 PV, 660.39 CHS PMT, FV. The remaining balance will be displayed as a negative number. Make sure the BAII Plus has the P/Y value set to 1.



What is the Net Present Value of this series of annual cash flows at an interest rate of 14% per year: Year 0:
<$4,000>, Year 1: $2,000, Year 2: $0, Year 3: $0, Year 4 to indicate a negative number).

  1. $214.37
  2. <$67.49>
  3. $122.71
  4. $1.21
  5. <$179.41>

Answer(s): C

Explanation:

On the BAII Plus, press CF 2nd CLRWork 4000 +/- ENTER DownArrow 2000 ENTER DownArrow DownArrow 0 ENTER DownArrow DownArrow 0 ENTER DownArrow DownArrow 4000 ENTER DownArrow DownArrow 2nd Quit. Then press NPV 14 ENTER DownArrow CPT. On the HP12C, press these keys: 4000 CHS BlueShift CFo 2000 BlueShift CFj 0 BlueShift CFj 0 BlueShift CFj 4000 BlueShift CFj. Then press 14 i, YellowShift NPV.
The "DownArrow" represents the downward-pointing arrow on the top row of the BAII Plus keyboard. Make sure the BAII Plus has the P/Y value set to 1.






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