Author Question: Harry decided he was tired of being a poor college student when he visited a local electronics store ... (Read 57 times)

audragclark · **on:** Jul 10, 2018

Harry decided he was tired of being a poor college student when he visited a local electronics store and experienced its finest home theatre system.

He determined that he would invest today a portion of the remaining money he earned last summer cleaning animal cages at the veterinary clinic. He plans to invest the money into an international mutual fund for 3.5 years and expects to earn an average annual rate of return of 15. If Harry wants to have 4,000 in the account at the end of this time, how much must he invest today?
A) 1,253
B) 2,048
C) 2,453
D) 2,591

Question 2

Which alternative is not characteristic of an Internet broker?

A)

Easy account access for placing and monitoring orders
B)

Typically offers an excellent Web site
C)

Places restrictions on the number of trades you can make
D)

Has very low commissions

zenzy · **Reply #1 on:** Jul 10, 2018

Answer to Question 1

Answer: C
Explanation: C) PV = = = 2,452.55
MODE = END
INPUT 3.5 15 ? 0 4,000
KEY N I/Y PV PMT FV
CPT 2,452.55

Answer to Question 2

C