all questions need to be answered within time frame. Specify the correct optionQuestion 110 pts

1. You plan to have a family retreat at a cost of $75,000. You found a CD that pays an

interest rate of 9% per year, compounding monthly.

(a) How much do you need to put in the CD account today, if the retreat takes place in 5

years?

Group of answer choices

$47900

$45200

$41120

$42890

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Question 210 pts

(b) If you can only come up with $40000 today, in how many years can you have the

family retreat?

Group of answer choices

8 years

7 years

6 years

9 years

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Question 310 pts

2. You are interested in buying a car at $25,000, and plan to finance the entire amount.

(a) If you expect to pay off the loan at $31000 in 5 years, what nominal annual interest

rate, compounding monthly, will make this happen?

Group of answer choices

2.25%/year

4.30%/year

3.75%/year

4.83%/year

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Question 410 pts

(b)

If you can secure a loan at 3%/year, compounding monthly, and still be willing to

pay it off at $31,000, how long will the loan be?

Group of answer choices

6.9 years

7.8 years

7.2 years

8.3 years

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Question 510 pts

3. Company A has fixed expenses of $11,500 per year and each unit of product has a

$0.25 variable cost. Company B has fixed expenses of $6,300 per year and can

produce the same product at a $0.50 variable cost per unit.

(a) At what number of units of annual production will Company A have the same

overall cost as Company B?

Group of answer choices

30100

20800

33000

31700

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Question 610 pts

(b) At 40,000 units per year, by how much is cost of Company B higher than that of

company A?

Group of answer choices

$4800

$2400

$7200

-$2400

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Question 710 pts

4 (20 points). Five years ago, when the relevant cost index was 150, an industrial A/C

unit with a capacity of cooling a 25000-ft2 area cost $45,000. Today, it is desired to build

a new A/C unit with capacity of cooling a 70000-ft2 area, and the cost index now is 370.

Assume that the power-sizing exponent to reflect economies of scale, x, is 0.7. Use the

cost-index and power-sizing models to determine the approximate cost (expressed in

today’s dollars) of the new A/C unit.

(a) Today, the cost of building an A/C unit with capacity of cooling a 25000-ft2 area is

Group of answer choices

$111,000

$117,000

$122,000

$107,000

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Question 810 pts

(b) Today, the cost of building an A/C unit with capacity of cooling a 75000-ft2 area is

Group of answer choices

$227,450

$239,500

$257,022

$248,700

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Question 910 pts

5. $80,000 is deposited in a bank account that pays 9% nominal interest per year.

(a)

How long does it take for the account to reach $240000, if interest compounds

quarterly?

Group of answer choices

13.5 years

11.5 years

14.5 years

12.5 years

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Question 1010 pts

(b)

How long does it take for the account to reach $400,000, if interest compounds

monthly?

Group of answer choices

19 years

17 years

16 years

18 years

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