Finance-questions

Question 15 pts

A ____________ is a document ordering a ____________ to pay a stated sum of money from a person’s account to another person.

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Flag this QuestionQuestion 25 pts

The ____________ of a check is the ____________ on its back, authorizing its deposit or cashing.

Flag this QuestionQuestion 35 pts

Select the information that is NOT included when writing a check.

Flag this QuestionQuestion 45 pts

Technology has made banking transactions easier and faster by means of:

(Select all that apply)

Flag this QuestionQuestion 55 pts

In a check, the routing number identifies the ____________, and the account number identifies the ____________.

Flag this QuestionQuestion 65 pts

In this check, the number 243 in the lower left corner is the:

Flag this QuestionQuestion 75 pts

A checkbook register is used to record ____________.

Flag this QuestionQuestion 85 pts

The initial balance in a checking account is $ 2,500. After paying a bill for $ 150, depositing a check for $ 200, withdrawing $ 70 using an ATM, transferring $ 1,000 to a savings account, and receiving a direct deposit for $ 1,020, what is the final balance in that checking account ?

Flag this QuestionQuestion 95 pts

Select all the pros that apply to the use of debit cards.

Flag this QuestionQuestion 105 pts

When writing a check, make sure NOT to ____________.

Flag this QuestionQuestion 115 pts

The present value of an investment is $ 20,000 and the interest earned is $ 575.

What is the future value of the investment ?

Flag this QuestionQuestion 125 pts

An investment of $ 40,000 earns simple interest at a rate of 7 % for 5 years.

Find the total interest earned.

Flag this QuestionQuestion 135 pts

The formula

LaTeX: FV:=:PV:cdot:left(1:+:frac{APR}{n}right)^{:n:cdot:t:}

FV=PVâ‹…(1+APRn)nâ‹…t

is used to calculate the ____________.

Flag this QuestionQuestion 145 pts

The present value of an investment is ____________.

The future value of an investment is ____________.

Flag this QuestionQuestion 155 pts

In the formula

LaTeX: FV:=:PV:cdot:left(:1:+:frac{APR}{n}right)^{:n:cdot:t:}

FV=PVâ‹…(1+APRn)nâ‹…t

the variable n represents ____________.

Flag this QuestionQuestion 165 pts

A 10 year investment of $ 45,000, earning at a rate of 8 %, compounded monthly, has a future value of ____________.

Flag this QuestionQuestion 175 pts

How much do you need to invest today, for the investment to grow to $ 20,000 in 5 years, if the APR is 4 %, compounded daily ?

Flag this QuestionQuestion 185 pts

What is the monthly payment for a car loan of $ 32,000 and an APR of 5 % for 4 years ?

Flag this QuestionQuestion 195 pts

An investment of $ 7,000 pays an interest of 8 %, compounded continuously for 12 years.

How much is in the account at the end of the investment ?

Flag this QuestionQuestion 205 pts

Using the Rule of 70, estimate how long it takes for an investment to double if the APR is 5 %.