# Time Value of Money

## Time Value of Money Quiz

### The amount of money a person expects to have in the future is called

• Principal
• Simple Interest
• Present Value
• Future Value

### Earning interest on interest is called

• Extra Interest
• Inflation Interest
• Compound Interest
• Simple Interest

### The idea that money to be paid out or received in the future is not equivalent to money paid out or received today

• Time Value of Money
• Compound Money
• PV/FV Money
• SMART Money

• Acceptable
• Attainable
• Accurate

### A fast way to estimate how long it will take your savings to double with compound interest is known as

• 70-20-10 Rule
• Rule of 72
• Rule of the 70's
• 30-60 Rule

• \$546.24
• \$546.25
• \$544.46
• \$543.25

• \$898.09
• \$975.68
• \$1070.58
• \$1710.58
• \$1710.01

• \$9,216.08
• \$6,236.83
• \$6,240.07
• \$9,246.57

### Steady rise in the general level of prices is known as

• Inflation
• Interest
• Principal
• Time Value of Money

### Sally invested \$6,500 in a savings account earning 12% interest compounded quarterly. What is the future value of this investment after five years? Round your answers to the nearest cent.

• \$1,235,322.65
• \$6,901.32
• \$6,895.85
• \$11,739.72