1. If you put $700 in a savings account with a 10% nominal rate of interest compounded monthly, what will the investment be worth in 21 months (round to the nearest dollar)? PLEASE SHOW WORK.
A. $1,176
B. $827
C. $833
D. $770
E. $828
2. You have $1,000 today and want to double your money in 8 years. What interest rate must you earn? PLEASE SHOW YOUR WORK.
A 9.25%
B 9.00%
C 9.05%
D 9.50%
E 9.12%
3. The Baker's Dozen has current liabilities of $5,600, net working capital of $2,100, inventory of $3,900, and sales of $13,500. What is the quick ratio? Assume pre-paid expenses are zero. PLEASE SHOW YOUR WORK
A .68
B .7
C 1.38
D 1.47
E 2.08
4. If the Debt/Equity Ratio is 0.80. What is the Debt Ratio? PLEASE SHOW YOUR WORK
A .4
B .375
C .6
D 1
E .4444