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ACC 2101 Quiz 15 Time Value of Money
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Terms in this set (13)
If I multiply one side of an equality by ten, to maintain the equality, what do I have to do to the other side (3 words)?
Fill in the blank
multiply by ten
In an installment loan
Multiple Choice
later payments pay less interest than earlier payments
later payments pay more interest than earlier payments
it depends on the interest rate
later payments pay the same interest as earlier payments
later payments pay less interest than earlier payments
The Excel function which calculates the rate of return which makes a series of cash flows equals zero is called
Fill in the blank
IRR
In an installment loan
Multiple Choice
it depends on the interest rate
later payments pay the same principal as earlier payments
later payments pay less principal than earlier payments
later payments pay more principal than earlier payments
later payments pay more principal than earlier payments
To do math with Ruritanian Rubis and Euros you can:
Check All That Apply
Translate the Rubis to Euros
Translate the Euros to Rubis
Translate both the Euros and Rubis to Dollars
Translate both the Euros and Rubis to Japanese Yen
Translate both the Euros and Rubis to ounces of gold
Translate the Rubis to Euros
Translate the Euros to Rubis
Translate both the Euros and Rubis to Dollars
Translate both the Euros and Rubis to Japanese Yen
Translate both the Euros and Rubis to ounces of gold
What I can I add to a number without changing it?
Numeric Response
0
Payments on an installment loan:
Multiple Choice
Every payment is partially principal and partially interest
Some payments are principal and some are interest
Every payment is 100% interest
Every payment is 100% principal
Every payment is partially principal and partially interest
If you put $500 into a savings account that pays simple interest of 8% per year and then withdraw the money two years later, you will earn interest of exactly $80.
Multiple Choice
False
True
True
Does a balance sheet work wih present value concepts?
Yes or No
No
For a given interest rate, which gives more interest?
Multiple Choice
Compound Interest
Simple Interest
Compound Interest
The Indians would need to earn about 10% compounded to have made a good deal on the sale of Manhattan
True or False
False
What number can I multiply something by without changing it
Numeric Response
1
The entry to record a monthly payment on an installment note such as a car loan:
Multiple Choice
Increases expense, decreases liabilities, and decreases assets.
Increases expense, increases liabilities, and increases assets.
Increases expense, decreases liabilities, and increases assets.
Increases expense, increases liabilities, and decreases assets.
Increases expense, decreases liabilities, and decreases assets.
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