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Complete the Personal Finance Problems - Week 2.
Write a 750- to 1,050-word summary of the problems in which the
team includes the following:
What influence does present and future value of money have on the
different scenarios?
What is the role of risk in determining decisions to diversify or how
assets are allocated?
Submit the team's answers to the questions including all calculations
and a summary of the results.
Click the Assignment Files tab to submit your assignment.
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FIN 420 Week 2 Personal Finance Quiz
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1 Carla Lopez deposits $2,500 a year into her retirement account. If
these funds have an average earning of 8 percent over the 40 years
until her retirement, what will be the value of her retirement account?
2 An ATM with a service fee of $2 is used by a person 100 times in a
year. What would be the future value in 10 years (use a 3 percent rate)
of the annual amount paid in ATM fees?
3 If a person spends $10 a week on coffee (assume $500 a year), what
would be the future value of that amount over 10 years if the funds
were deposited in an account earning 3 percent?
4 A financial company that advertises on television will pay you
$60,000 now for annual payments of $10,000 that you are expected to
receive for a legal settlement over the next 10 years. What is the
present value of this assuming the time value of the money at 10%?
5 Brenda plans to reduce her saving (that is, she will spend more) by
$50 a month. What would be the foregone future value of this reduced