CHAPTER 11 REVIEW QUIZ Directions White your answers the blanks proved! Reund dlr amounts fo the nearest hundredth A Find the amount of the following ordinary annuities and interest earned. Amount of Time Amount of Interest Each Deposit Period Rate. == (Years)——Annulty Earned 1. $7,000 annually 10% 10 2. $3,900 semiannually 6% 5 3. $4,000 quarterly 8% 4, $9,000 annually 1296, 5. $15,000 quarterly 8% 4 8, Find the amount of the following annuities due and interest earned. ‘Amount of Time Amount of Interest Each Deposit Period Rate. (Years) Annuity Earned 6. $4,500 annually 12% 5 7. $8,000 semiannually 6% s 8. $7,500 quarterly 8% 8 9. $7,000 annually 5% 7 10. $4,550 quarterly 8% 3 . Find the present value of the following annuities, Amount per Payment at Time Rate of. Present Payment’ End of Each (Years) Investment Value 11. $600 year “4 10% 12. $1,100 6 months 8 12% 13, $450 year 10 6% 14, $1,500 quarter 5 8% - $2,300 6 months 7 6% 536 BUSINESS MATH USING EXCELD. Find the amount of each payment needed! to accumulate the indicated amount Ina sinking fund, ‘Amount Money Earns Compounded Years. Payment 16. $2,400 8% annually 6 V7. $3,600 10% quarterly 8 18, $4,200 6% serviannually 19. $2,100 5% annually 20. $5,000 ‘monthly Calculate the cost of the shares, the commission, and the total cost of the transaction. The commission is 1.596 of the cost of the shares, Shares Per-share Cost of Purchased Price Shares ‘Commission. 21. 600 516.00 22. 2,000 $25.50 ‘To calculate the market value, the commission, the total expenditure, and the annual interest for bonds, use the following information. Number of bonds: 8 Face value of each bond: $1,000 Price per bond: 84.50 Interest rate: 10.59% Commission per $1,000 bond: $10 narket value commission. total expenditure interest CHAPTER 11 * Annuities, Stocks, and Bonds 537