Advanced Quantitative Reasoning and AQR Assignment Need all 17 questions answered correctly. I have uploaded the first 4 questions to get a feel of the ass

Advanced Quantitative Reasoning and AQR Assignment Need all 17 questions answered correctly. I have uploaded the first 4 questions to get a feel of the assignment. 1. In terms of investing and saving for retirement, which is not sound advice? (1 point)
Keep original goals even if circumstances change.
Start saving for retirement as soon as possible.
It is always smart to seek professional financial advice.
Maintain a diversified portfolio.
2. Sarat invested an average of $375 per month since age 35 in various securities for his retirement savings. (1 point)
His investments averaged a 4.5% annual rate of return until he retired at age 65. Given the same monthly
investment and rate of return, how much more would Sarat have in his retirement savings had he started
investing at age 25? Assume monthly compounding.
$202,500.00
$218,161.70
$117,562.50
$174,278.98
3. When he was 30, Kearney began investing $200 per month in various securities for his retirement savings. (1 point)
His investments averaged a 5.5% annual rate of return until he retired at age 68. What was the value of
Kearney’s retirement savings when he retired? Assume monthly compounding of interest.
$182,722.38
$307,479.35
$351,115.71
$1,537.40
4. Naoki is an exchange student from Japan studying in the United States. When he first arrives, he finds the (1 point)
following exchange rate posted: USD to JPY = 80.83. At this rate, how many U.S. dollars will Naoki get for
each of 100 yen? Round to the nearest cent.
$180.83
$80.83
$19.17
$1.24
(1 point)
13. Which of the following would most likely reduce the monthly premium a policyholder pays for
homeowner’s insurance?
adding riders to the policy
increasing the deductible
putting a large addition on the home
removing the burglar alarm system
14. Porter started a new job and must enroll in a new family health insurance plan. One of the options (1 point)
involves prescription drug coverage. Porter estimates that he and his family will fill 8 prescriptions per
month, totaling $950. Which option would result in the lowest overall cost for Porter?
$86 monthly premium; $12 copayment per prescription
$114 monthly premium; $8 copayment per prescription
$98 monthly premium; 90% coverage for all prescription costs
$32 monthly premium; 85% coverage for first $500 in prescription costs, then 75% coverage for all prescription costs over $500
15. Kenzi is a 32-year-old dentist with her own office. Her assets and liabilities are listed below. What is the
total value of her assets?
(1 point)
Car Value
$26,250
Car Loan
$4,600
Savings Account Balance $42,607
Office Equipment $19,400
Student Loans
$2,949
Credit Card Balance $413
Checking Account Balance 579,391
Home Value
$218,950
$387,011
$307,207
$386,598
$7,962
(1 point)
5. Leanne is a tourist arriving in Norway. She exchanges 200 U.S. dollars for the local currency, Norway
kroners. If the exchange rate that day is USD to NOK = 5.43, how many Norway kroners does Leanne
receive? Round to the nearest hundredth.
1,086.00
36.83
2,715.00
205.43
6. Grady is an American photojournalist in South Africa. He makes a purchase for 24 South African rands. If (1 point)
the exchange rate that day is USD to KAR = 6.92, what is the equivalent price of the item in U.S. dollars?
Round to the nearest hundredth.
$30.92
$0.29
$3.47
$166.08
7. Jeannette made contributions to an IRA over the course of 35 working years. Her contributions averaged (1 point)
$15,000 annually. Jeannette was in the 24% tax bracket during her working years. The average annual
rate of return on the account was 7.5%, bringing the value of the IRA to $2,313,774.08 by the time she
retired. At this point, Jeannette stopped working and making IRA contributions, and instead started
living on withdrawals from the retirement account. Jeannette dropped into the 18% tax bracket at
retirement. What is the difference in the taxes Jeannette would pay on this account over time between a
Traditional and Roth IRA?
$290,479.33
$31,500.00
$460,805.78
$138,826.44
(1 point)
8. Sabina made contributions to a Traditional IRA over the course of 32 working years. Her contributions
averaged $2,700 annually. Sabina was in the 24% tax bracket during her working years. The average
annual rate of return on the account was 6.5%. Upon retirement, Sabina stopped working and making
IRA contributions. Instead, she started living on withdrawals from the retirement account. At this point,
Sabina dropped into the 20% tax bracket. Factoring in taxes, what is the effective value of Sabina’s
Traditional IRA at retirement? Assume annual compounding.
$249,303.19
$236,838.03
$216,072.42
$205,268.80
9. Ashley made contributions to a Roth IRA over the course of 29 working years. His contributions averaged (1 point)
$1,700 annually. Ashley was in the 29% tax bracket during his working years. The average annual rate of
return on the account was 7%. Upon retirement, Ashley stopped working and making Roth IRA
contributions. Instead, he started living on withdrawals from the retirement account. At this point, Ashley
dropped into the 20% tax bracket. Factoring in taxes, what is the effective value of Ashley’s Roth IRA at
retirement? Assume annual compounding.
$158,477.81
$138,629.10
$134,192.10
$144,052.10
(1 point)
10. Chase pays an annual premium of $640 for automobile insurance, including liability coverage of up to
$75,000. He pays this for seven years without needing to file a single claim. Then he causes an accident,
for which the other driver is claiming $33,000 in damages. How much more expensive were the costs of
the accident than what Chase had invested so far in his insurance policy?
$42,000
$28,520
$37,520
$32,360
11. Lanette bought a homeowner’s insurance policy when she purchased her new home. She pays an annual (1 point)
$450 premium for property coverage of $200,000 and liability coverage of $100,000. Her deductible is
$1,150. A windstorm causes $34,500 in damages to her home and property. If the claim is approved, how
much will Lanette’s insurance company pay for the damages?
$34,500
$35,650
$33,350
$32,900
(1 point)
12. Alaysia has an automobile insurance policy, with just her minimum state required liability coverage of
$12,000. She has a $250 deductible. Alaysia gets in an accident for which the other driver is at fault. The
other driver has no insurance. Damage to Alaysia’s car totals $6,525. How much of these losses are out-
of-pocket for Alaysia?
$6,525
$6,275
$250
$5,225
16. Milton is a 54-year-old architect. His assets and liabilities are listed below. What is the total value of his
liabilities?
(1 point)
Home Value
$589,674
Mortgage
$99,408
Credit Card Balance $8,057
owned Work Equipment $51,797
Car Value
$61,182
Investments
$59,090
Field Equipment Loan $76,348
Whole Life Insurance Policy $444,000
$627,813
$1,205,743
$1,389,556
$183,813

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