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Maths Quest Maths A Year 12 for Queensland Chapter 2 Appreciation and depreciation Test Yourself 1 Test Yourself Chapter 2 Appreciation and depreciation Name: ___________________________ All Multiple Choice 1 A 2-litre container of milk costs $2.42. D 5 A firm buys equipment for $23 600. It E If inflation averages 3% p.a. for the depreciates at the rate of $2950 per next 5 years, the cost of the milk at that annum, constant depreciation. time will be: Assuming zero scrap value, the value A $2.45 of the equipment after 5 years is B $2.53 expected to be: C $2.74 A $20 650 D $2.81 B $17 700 E $2.90 C $14 750 D $11 800 E $8850 2 A can of soft drink at the moment can C be purchased for $1.20. If inflation during the next two years is 3.2% and 6 A farmer bought machinery for B 2.7%, what would be the expected cost $18 400. It depreciates at the rate of of the soft drink can in two years’ $3036 per annum. Assuming zero scrap time? value, the value of the machinery after A $1.23 4 years is expected to be: B $1.24 A $3220 C $1.27 B $6256 D $1.32 C $9292 E $1.35 D $12 328 E $15 364 3 The comprehensive family medical D insurance costs $1750 per annum. 7 A new engraving machine was bought E Assuming the average rate of increase for $30 000. If depreciation is of 9.5% each year, the insurance calculated at the rate of 27% reducing premium after 3 years is likely to be: balance, then the value at the end of A $1916 5 years is: B $2098 A $21 900 C $2249 B $15 987 D $2298 C $11 670.11 E $2516 D $8519.47 E $6219.21 4 A colour printer (with expected B lifetime of 7 years and zero scrap value) is bought for $670. Assuming straight-line depreciation, the amount of depreciation allowed per year is: A $46.90 B $95.71 C $111.67 D $134 E $670 Maths Quest Maths A Year 12 for Queensland Chapter 2 Appreciation and depreciation Test Yourself 2 8 Machinery worth $50 000 diminishes B 12 The value of a $5000 investment made E at the rate of 16.5% per annum. The at 6% for 5 years is: management decides to replace the A $5300 machinery when its value falls below B $5637.09 $10 000. The time before the C $5955.08 replacement of the machinery is closest D $6312.38 to: E $6691.13 A 8 years B 9 years C 10 years 13 The value of an annuity in which B D 11 years $1000 is invested at the end of each E 12 years year at 6% p.a. for 5 years is: A $5300 B $5637.09 9 A new van worth $19 000 with C C $5955.08 reducing balance depreciation at 20% D $6312.38 per annum is bought by a courier E $6691.13 company. The value of the van after 3 years is expected to be: A $15 200 Where necessary use Present and B $12 160 Future Value Tables on pages 90 and C $9728 92 of your book in the following D $7782.40 questions. E $6225.92 14 Sally invests $2000 at the end of each D 10 An electrician bought tools of trade to E year in a retirement fund. She makes the value of $12 000. If he depreciates payments for 10 years. If the fund pays these tools at the rate of 15% p.a., 4% p.a., the value of her retirement which of the following calculations benefit will be closest to: would give the correct estimate of their A $9000 value in 3 years’ time? B $12 000 A 12 000 0.15 3 C $20 000 D $24 000 B 12 000 1.5 3 E $30 000 C 12 000 15 3 D 12 000 8.5 3 E 12 000 0.85 3 15 If Sally had invested $4000 at the end C of each year for a period of 5 years, her retirement benefit would be closest to: A $20 000 11 The Australian Tax Office allows a A B $21 000 30% p.a. tax deduction for depreciation C $22 000 on a $4850 computer system. The D $23 000 allowable tax deduction in the second E $24 000 year would be: A $1018.50 B $1455 C $1663.55 D $2376.50 E $3395 Maths Quest Maths A Year 12 for Queensland Chapter 2 Appreciation and depreciation Test Yourself 3 16 In order to collect $10 000 after 5 years C 19 What present value would be E at 6% p.a. interest, compounded equivalent to an investment of $900 per annually, the yearly annuity payment year into an annuity at 5% p.a. for a would be closest to: period of 6 years? A $1500 A $3791 B $1600 B $3897 C $1800 C $4426 D $1900 D $4500 E $2000 E $4568 17 Fiona is able to contribute $760 at the D 20 The interest earned on $20 000 C end of each year to an annuity fund. invested at 6% p.a. for 10 years with She would like to collect $10 000 at the interest compounding six-monthly is: end of 10 years. The minimum interest A $12 000 rate which would enable her to do this B $15816.95 is: C $16 122.22 A 3% p.a. D $35 816.95 B 4% p.a. E $36 122.22 C 5% p.a. D 6% p.a. E 7% p.a. 18 Mavis aims to save $20 000 in the next D 10 years. Her annuity fund is paying 6% p.a. with interest compounded annually. The annual contribution Mavis must make is closest to: A $700 B $740 C $1000 D $1500 E $2000

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posted: | 10/3/2010 |

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