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Run the value gates

Exercise and reference answers

Questions
  1. Correct
    1,040
    Choices
    1. 1,040
    2. 1,004
    3. 1,400
  2. Correct
    1,081.60
    Choices
    1. 1,080.00
    2. 1,081.60
    3. 1,084.00
  3. Correct
    315
    Choices
    1. 315
    2. 305
    3. 350
  4. Correct
    8 yrs
    Choices
    1. 6 yrs
    2. 8 yrs
    3. 12 yrs
  5. Correct
    Forward
    Choices
    1. Forward
    2. Backward
    3. Still
  6. Correct
    Backward
    Choices
    1. Forward
    2. Backward
    3. Still
Instructions
Pick the balance, then the doubling time, then the direction of travel.

Explanation

_Source: OpenStax Principles of Finance 2e, Chapter 7, Time Value of Money I._
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