Economics of Money, Banking, and Financial Markets, 11e, Global Edition (Mishkin)
Chapter 4 The Meaning of Interest Rates
4.1 Measuring Interest Rates
1) The concept of ________ is bad on the common-n notion that a dollar paid to you in the future is less valuable to you than a dollar today.
A) prent value
B) future value
C) interest
D) deflation
Answer: A李小莹
AACSB: Application of Knowledge
2) The prent value of an expected future payment ________ as the interest rate increas.
A) falls
B) ris
C) is constant
D) is unaffected
Answer: A
AACSB: Reflective Thinking
3) An increa in the time to the promid future payment ________ the prent value of the payment.
A) decreas
B) increas
C) has no effect on
灭苍蝇D) is irrelevant to
Answer: A
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AACSB: Reflective Thinking
4) With an interest rate of 6 percent, the prent value of $100 next year is approximately
A) $106.
B) $100.
C) $94.
D) $92.
Answer: C
AACSB: Analytical Thinking
5) What is the prent value of $500.00 to be paid in two years if the interest rate is 5 percent?
A) $453.51
B) $500.00
C) $476.25
D) $550.00
Answer: A
AACSB: Analytical Thinking
6) If a curity pays $55 in one year and $133 in three years, its prent value is $150 if the interest rate is
A) 5 percent.
B) 10 percent.
C) 12.5 percent.
D) 15 percent.
Answer: B
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AACSB: Analytical Thinking
7) To claim that a lottery winner who is to receive $1 million per year for twenty years has won $20 million ignores the process of
A) face value.
B) par value.
C) deflation.
D) discounting the future.
Answer: D
AACSB: Analytical Thinking
8) A credit market instrument that provides the borrower with an amount of funds that must be repaid at the maturity date along with an interest payment is known as a
A) simple loan.
B) fixed-payment loan.
C) coupon bond.
D) discount bond.
Answer: A
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AACSB: Application of Knowledge
9) A credit market instrument that requires the borrower to make the same payment every period until the maturity date is known as a
A) simple loan.
B) fixed-payment loan.
C) coupon bond.
D) discount bond.
Answer: B
AACSB: Application of Knowledge
10) Which of the following are TRUE of fixed payment loans?
A) The borrower repays both the principal and interest at the maturity date.
B) Installment loans and mortgages are frequently of the fixed payment type.
C) The borrower pays interest periodically and the principal at the maturity date.
D) Commercial loans to business are often of this type.叶芝诗集
Answer: B
AACSB: Reflective Thinking
11) A fully amortized loan is another name for
A) a simple loan.
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B) a fixed-payment loan.
C) a commercial loan.
D) an uncured loan.
Answer: B
AACSB: Application of Knowledge
12) A credit market instrument that pays the owner a fixed coupon payment every year until the maturity date and then repays the face value is called a
A) simple loan.
B) fixed-payment loan.
C) coupon bond.
D) discount bond.
Answer: C
AACSB: Application of Knowledge
13) A ________ pays the owner a fixed coupon payment every year until the maturity date, when the ________ value is repaid.
A) coupon bond; discount
B) discount bond; discount
C) coupon bond; face
D) discount bond; face
Answer: C
AACSB: Analytical Thinking
14) The ________ is the final amount that will be paid to the holder of a coupon bond.
A) discount value
B) coupon value
C) face value
D) prent value
Answer: C
AACSB: Application of Knowledge
15) When talking about a coupon bond, face value and ________ mean the same thing.
花螺做法
A) par value
B) coupon value
C) amortized value
D) discount value
Answer: A
AACSB: Application of Knowledge
16) The dollar amount of the yearly coupon payment expresd as a percentage of the fa
ce value of the bond is called the bond's
A) coupon rate.
B) maturity rate.
C) face value rate.
D) payment rate.
Answer: A
AACSB: Application of Knowledge
17) The ________ is calculated by multiplying the coupon rate times the par value of the bond.
A) prent value
B) face value
C) coupon payment
D) maturity payment
Answer: C
AACSB: Analytical Thinking
18) If a $1000 face value coupon bond has a coupon rate of 3.75 percent, then the coupon payment every year is
A) $37.50.
B) $3.75.
C) $375.00.
D) $13.75
Answer: A
AACSB: Analytical Thinking
