You buy a seven-year 6 percent savings certificate for 1000, Financial Management

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You buy a seven-year 6 percent savings certificate for 1000

1. What is the present value of a $150 lump sum to be received in six years if the opportunity cost rate is 10 percent?

A. $62.09

B. $65.61

C. $84.67

D. $85.69

E. $78.42

2. You buy a seven-year, 6 percent savings certificate for $1,000. If interest is compounded annually, what will its value be at maturity?

A. $1,567.43

B. $1,486.87

C. $1,601.03

D. $1,503.62

E. $1,466.33

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Financial Management: You buy a seven-year 6 percent savings certificate for 1000

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