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5.14 Quiz: Investment Wrap-Up
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The value of an investment is expected to grow by 14% per year.
How long will it take for the value to double?
about 5 years
Lucia bought 800 shares of a company's stock for $7.94/share. She pays a broker a commission of $16 to buy and sell stock. After one year, she sold all her shares, which were worth $8.75/share at that time.
What was her rate of return?
9.7%
Lori bought a bond with a face value of $20,000 and a coupon rate of 9.5%. The bond will mature in 20 years.
How much interest will she receive semiannually?
$950
Kirsten's gross annual income is $47,208. She is paid semimonthly and has 6% deducted from her paychecks for her 403(b). Her employer matches her deduction, up to 5%.
How much is deposited into Kirsten's 403(b) each payday.
$216.37
Dwight's gross semimonthly pay is $1220.
To maintain his current lifestyle, how much should he save up by the time he retires?
$292,800
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