FIN 515 Devry entire course DEVRY FIN 515 Week 4 Midterm

DEVRY FIN 515 Week 4 Midterm

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FIN 515 Week 4 Midterm
1. (TCO G) The firm’s asset turnover measures
2. (TCO G) Suppose Novak Company experienced a reduction in its ROE over the last
year. This fall could be attributed to
3. (TCO B) You plan on retiring in 20 years. You currently have $275,000 and think
you will need $1,000,000 to retire. Assuming you don’t deposit any additional money
into the account, what annual return will you need to earn to meet this goal?
4. (TCO B) You take out a 4 year car loan for $18,000. The loan has a 4% annual
interest rate. The payments are made monthly. What are the monthly payments?
Show your work
5. (TCO B) You currently have $10,000 in your retirement account. If you deposit
$500 per month and the account pays 5% interest, how much will be in the account
in 10 years? Show your work.
6. (TCO B) You have a two children, A and B. Child A is not going to college but is
working in a business to learn the ropes. Child A plans on opening a business
someday. Child B is attending college. You put a certain amount of money into an