FIN 502 Study Guide - Final Guide: Savings Account, Tax Rate, Capital Gain
Document Summary
Multiple choice: for which of the following is debt management usually a low priority, younger, single, couple, dependent child, older couple, children independent or nearly so, couple, retired. *** ch 6: andre is going to save ,000 every 4 months for 10 years beginning now. You plan to pay off your line of credit by paying ,000 each year for 4 years. The balance of your line of credit was a result of you buying many ibones when they recently came out in the marketplace. The funds will be withdrawn from your savings account, which pays 3. 5% compounded daily. Ear = (1. 00009589) 365 1 = 3. 5618% 1 mark 1 if not enough decimal places. Pva = 4,000 (pvifa 4, 3. 5618%) = ,670. 79 2 marks 1 if no formula. Pva = 4,000 boy (pvifa 4, 3. 5618%) = 15,193. 33 1 mark. If show only incorrect answer and no calculations, give no marks.
