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Free CFA-Level-I Exam Braindumps (page: 235)

Page 234 of 991
PDF with 3963 Questions

If your estate were to receive $100 a year, beginning next year, for 100 years, what is the equivalent single amount today that this series of cash flows is equal to, assuming interest is 5% per year, compounded annually?

  1. $11,302.37
  2. $10,000.00
  3. $2,041.54
  4. $58.42
  5. $1,984.79

Answer(s): E

Explanation:

On the BAII Plus, press 100 N, 5 I/Y, 100 PMT, 0 FV, CPT PV. On the HP12C, press 100 n, 5 i, 100 PMT, 0 FV, PV. Note that the answer will be displayed as a negative number. As a side note, continuing the $100 payments for 10,000 years only increases the PV today by a little over $15. This is because the $100 payments beyond 100 years from now would add very little to the PV today. Make sure the BAII Plus has the value of P/Y set to 1.



What monthly payment would repay a $28,500 car loan over 60 months, assuming your loan has an interest rate of 3.9% per year, compounded monthly?

  1. $492.29
  2. $764.58
  3. $423.75
  4. $550.58
  5. $523.59

Answer(s): E

Explanation:

On the BAII Plus, press 60 N, 3.9 divide 12 = I/Y, 28500 PV, 0 FV, CPT PMT. On the HP12C, press 60 n, 3.9 ENTER 12 divide i, 28500 PV, 0 FV, PMT. Note that the answer will be displayed as a negative number. Make sure the BAII Plus has the value of P/Y set to 1.



If you deposit $5,000 into an account paying 9% per year, compounded monthly, how much do you have in the account in 10 years?

  1. $5,403.52
  2. $12,001.66
  3. $9,116.87
  4. $2,039.69
  5. $12,256.79

Answer(s): E

Explanation:

On the BAII Plus, press 120 N, 9 divide 12 = I/Y, 5000 PV, 0 PMT, CPT FV. On the HP12C, press 120 n, 9 ENTER 12 divide i, 5000 PV, 0 PMT, FV. Note that the answer will be displayed as a negative number. Make sure the BAII Plus has the value of P/Y set to 1.



Suppose you need $500 in 9 months. How much must you deposit today, if the deposit will earn interest at 6% per year, compounded monthly?

  1. $522.96
  2. $478.05
  3. $381.95
  4. $295.95
  5. $291.77

Answer(s): B

Explanation:

On the BAII Plus, press 9 N, 6 divide 12 = I/Y, 0 PMT, 500 FV, CPT PV. On the HP12C, press 9 n, 6 ENTER 12 divide i, 0 PMT, 500 FV, PV. Make sure the BAII Plus has the P/Y value set to 1.






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