10e | Present Future Values – Problem Test Bank

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Student name:__________

TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Interest is the borrower’s payment to the owner of an asset for its use.

⊚ true
⊚ false

2) The future value computation is used to compute the value of future-day assets today.

⊚ true
⊚ false

3) An interest rate is also called a discount rate.

⊚ true
⊚ false

4) Present and future value computations enable companies to measure or estimate the interest component of holding assets or liabilities over time.

⊚ true
⊚ false

5) The number of periods in a present value calculation may only be expressed in years.

⊚ true
⊚ false

6) The present value factor for determining the present value of $6,300 to be received three years from today at 10% interest compounded semiannually is 0.7462. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

⊚ true
⊚ false

7) The present value of $1 formula is often useful when a borrowed asset must be repaid in full at a later date and the borrower wants to know the worth of the asset at the future date.

⊚ true
⊚ false

8) In a present value or future value table, the length of one time period may be interpreted as one year, one month, or any other length of time.

⊚ true
⊚ false

9) The present value of $2,000 to be received nine years from today at 8% interest compounded annually is $1,000.40. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

⊚ true
⊚ false

10) Sandra has a savings account that has accumulated to $50,000. She started with $28,225 and earned interest at 10% compounded annually. It took her five years to accumulate the $50,000. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

⊚ true
⊚ false

11) Future value can be found if the interest rate (i), the number of periods (n), and the present value (pv) are known.

⊚ true
⊚ false

12) The number of periods in a future value calculation may only be expressed in years.

⊚ true
⊚ false

13) The future value of $100 compounded semiannually for 3 years at 12% equals $140.49. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

⊚ true
⊚ false

14) At an annual interest rate of 8% compounded annually, $5,300 will accumulate to a total of $7,210.65 in 5 years. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

⊚ true
⊚ false

15) An annuity is a series of equal payments occurring at equal intervals.

⊚ true
⊚ false

16) The present value of an annuity table can be used to determine the value today of a series of payments to be received in the future.

⊚ true
⊚ false

17) An ordinary annuity is defined as equal end-of-period payments at equal intervals.

⊚ true
⊚ false

18) The present value of $5,000 per year for three years at 12% compounded annually is $12,009. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

⊚ true
⊚ false

19) The present value of four $10,000 semiannual payments invested for 2 years at 12% compounded semiannually is $43,746. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

⊚ true
⊚ false

20) The present value of eight $5,000 semiannual payments invested for 4 years at 8% compounded semiannually is $33,663.50. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

⊚ true
⊚ false

21) With deposits of $5,000 at the end of each year, you will have accumulated $38,578 at the end of the sixth year if the annual rate of interest is 10%. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

⊚ true
⊚ false

22) The future value of an ordinary annuity is the accumulated value of each annuity payment excluding interest as of the date of the final payment.

⊚ true
⊚ false

MULTIPLE CHOICE - Choose the one alternative that best completes the statement or answers the question.
23) Interest may be defined as:

A) Time.
B) A borrower's payment to the owner of an asset for its use.
C) The future value of a present amount.
D) Always a liability.
E) Always an asset.

24) If we want to know the value of present-day assets at a future date, we can use:

A) Present value computations.
B) Annuity computations.
C) Interest computations.
D) Future value computations.
E) Earnings computations.

25) Which interest rate column would you use from a present value or future value table for 8% interest compounded quarterly?

A) 12%
B) 6%
C) 3%
D) 2%
E) 1%

26) Which column (i) and row (n) would you use from a present value or future value table for 10% interest compounded quarterly for 9 years?

A) (i) = 2.50%, (n) = 10
B) (i) = 10%, (n) = 9
C) (i) = 2.50%, (n) = 36
D) (i) = 5%, (n) = 18
E) (i) = 5%, (n) = 36

27) Which column (i) and row (n) would you use from a present value or future value table for 8% interest compounded quarterly for 6 years?

A) (i) = 2%, (n) = 8
B) (i) = 8%, (n) = 6
C) (i) = 2%, (n) = 24
D) (i) = 4%, (n) = 12
E) (i) = 4%, (n) = 24

28) A company is considering investing in a project that is expected to return $280,000 three years from now. How much is the company willing to pay for this investment if the company requires a 9% return? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $259,555
B) $49,397
C) $280,000
D) $216,216
E) $131,472

29) A company is considering investing in a project that is expected to return $350,000 four years from now. How much is the company willing to pay for this investment if the company requires a 12% return? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $55,606
B) $137,681
C) $222,425
D) $265,764
E) $350,000

30) Hao made a single investment which, after 6 years invested at 14% compounded semiannually, has accumulated to $224,900. How much did Hao invest initially? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $224,895
B) $181,127
C) $221,725
D) $99,856
E) $37,882

31) Hao made a single investment which, after 5 years invested at 12% compounded semiannually, has accumulated to $215,000. How much did Hao invest initially? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $214,896
B) $160,584
C) $211,476
D) $120,056
E) $ 21,486

32) Molly borrows money by promising to make a single payment of $117,000 at the end of 5 years. How much money is Molly able to borrow if the interest rate is 10%, compounded semiannually? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $45,114
B) $91,714
C) $72,631
D) $87,704
E) $71,826

33) Molly borrows money by promising to make a single payment of $100,000 at the end of 5 years. How much money is Molly able to borrow if the interest rate is 10%, compounded semiannually? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $38,550
B) $78,350
C) $62,090
D) $74,850
E) $61,390

34) Jason has a loan that requires a single payment of $4,700 at the end of 4 years. The loan's interest rate is 8%, compounded semiannually. How much did Jason borrow? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $3,442.69
B) $3,744.69
C) $3,434.29
D) $4,700.00
E) $4,860.69

35) Jason has a loan that requires a single payment of $4,000 at the end of 3 years. The loan's interest rate is 6%, compounded semiannually. How much did Jason borrow? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $3,358.40
B) $4,000.00
C) $3,660.40
D) $4,776.40
E) $3,350.00

36) Patricia wants to invest a sum of money today that will yield $29,000 at the end of 6 years. Assuming she can earn an interest rate of 6% compounded annually, how much must she invest today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $20,445
B) $27,260
C) $17,400
D) $25,537
E) $24,087

37) Patricia wants to invest a sum of money today that will yield $10,000 at the end of 6 years. Assuming she can earn an interest rate of 6% compounded annually, how much must she invest today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $7,050
B) $9,400
C) $6,000
D) $8,836
E) $8,306

38) Paul wants to invest a sum of money today that will accumulate to $52,000 at the end of 5 years. Assuming he can earn an interest rate of 12% compounded semiannually, how much must he invest today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $29,037
B) $21,643
C) $22,893
D) $37,549
E) $29,243

39) Paul wants to invest a sum of money today that will accumulate to $50,000 at the end of 4 years. Assuming he can earn an interest rate of 8% compounded semiannually, how much must he invest today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $36,535
B) $27,015
C) $42,740
D) $36,750
E) $31,414

40) Marshall has received an inheritance and wants to invest a sum of money today that will yield $4,500 at the end of each of the next 10 years. Assuming he can earn an interest rate of 5% compounded annually, how much of his inheritance must he invest today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $45,000.00
B) $42,750.00
C) $40,612.50
D) $34,747.65
E) $90,000.00

41) Marshall has received an inheritance and wants to invest a sum of money today that will yield $5,000 at the end of each of the next 10 years. Assuming he can earn an interest rate of 5% compounded annually, how much of his inheritance must he invest today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $50,000.00
B) $47,500.00
C) $45,125.00
D) $38,608.50
E) $100,000.00

42) Cody invests $1,900 per year from his summer wages at a 4% annual interest rate. He plans to take a European vacation at the end of 4 years when he graduates from college. How much will he have available to spend on his vacation? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $8,220.16
B) $7,904.00
C) $7,296.00
D) $7,600.00
E) $8,068.35

43) Cody invests $1,800 per year from his summer wages at a 4% annual interest rate. He plans to take a European vacation at the end of 4 years when he graduates from college. How much will he have available to spend on his vacation? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $7,787.52
B) $7,488.00
C) $6,912.00
D) $7,200.00
E) $7,643.70

44) Jessica received a gift of $8,100 at the time of her high school graduation. She invests it in an account that yields 10% compounded semiannually. What will the value of Jessica's investment be at the end of 5 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $12,150.00
B) $8,910.00
C) $13,194.09
D) $10,125.00
E) $11,340.00

45) Jessica received a gift of $7,500 at the time of her high school graduation. She invests it in an account that yields 10% compounded semiannually. What will the value of Jessica’s investment be at the end of 5 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $8,250.00
B) $11,250.00
C) $12,216.75
D) $9,375.00
E) $10,500.00

46) A company expects to invest $5,000 today at 12% annual interest and plans to receive $15,529 at the end of the investment period. How many years will elapse before the company accumulates the $15,529? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) 0.322 years
B) 3.1058 years
C) 5 years
D) 8 years
E) 10 years

47) Keisha has $4,800 now and plans on investing it in a fund that will pay her 16% interest compounded quarterly. How much will Keisha have accumulated after 2 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $5,568.00
B) $6,569.28
C) $6,458.88
D) $6,336.00
E) $4,800.00

48) Keisha has $3,500 now and plans on investing it in a fund that will pay her 12% interest compounded quarterly. How much will Keisha have accumulated after 2 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $4,433.80
B) $4,340.00
C) $4,390.40
D) $3,920.00
E) $3,500.00

49) How long will it take an investment of $25,000 at 6% compounded annually to accumulate to a total of $35,462.50? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) 4 years
B) 5 years
C) 6 years
D) 2 years
E) 10 years

50) What annual interest rate is required to accumulate $6,802.50 in four years from an investment of $5,000? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) 5%
B) 8%
C) 10%
D) 12%
E) 15%

51) Russell Company has acquired a building with a loan that requires payments of $26,000 every six months for 5 years. The annual interest rate on the loan is 12%. What is the present value of the building? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $260,000
B) $157,165
C) $130,751
D) $93,725
E) $191,363

52) Russell Company has acquired a building with a loan that requires payments of $20,000 every six months for 5 years. The annual interest rate on the loan is 12%. What is the present value of the building? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $72,096
B) $113,004
C) $147,202
D) $86,590
E) $200,000

53) Pelcher Company acquires a machine by issuing a note that requires semiannual payments of $5,900 for 4 years. The interest rate on the note is 8% compounded semiannually. What is the cost of the machine? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $35,458.53
B) $39,722.93
C) $23,749.80
D) $19,463.28
E) $47,200.00

54) Pelcher Company acquires a machine by issuing a note that requires semiannual payments of $4,000 for 3 years. The interest rate on the note is 10% compounded semiannually. What is the cost of the machine? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $17,421.20
B) $20,302.80
C) $10,892.80
D) $9.947.41
E) $24,000.00

55) Marc Lewis expects an investment of $25,000 to return $6,595 annually. His investment is earning 10% per year. How many annual payments will he receive? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) Three payments
B) Five payments
C) Six payments
D) Four payments
E) More than six payments

56) A company is considering an investment that will return $25,000 semiannually at the end of each semiannual period for 4 years. If the company requires an annual return of 10%, what is the maximum amount it is willing to pay for this investment? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) Not more than $79,248
B) Not more than $158,496
C) Not more than $100,000
D) Not more than $161,580
E) Not more than $200,000

57) A company is considering an investment that will return $22,000 semiannually at the end of each semiannual period for 4 years. If the company requires an annual return of 10%, what is the maximum amount it is willing to pay for this investment? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) Not more than $69,738.00
B) Not more than $139,476.50
C) Not more than $88,000.25
D) Not more than $142,190.40
E) Not more than $176,000.15

58) What amount can you borrow if you make eight quarterly payments of $4,700 at a 16% annual rate of interest? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $31,643.69
B) $54,520.00
C) $47,000.00
D) $43,306.74
E) $41,023.89

59) What amount can you borrow if you make six quarterly payments of $4,000 at a 12% annual rate of interest? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $24,838.00
B) $21,668.80
C) $31,049.00
D) $40,000.00
E) $44,800.00

60) What amount can you borrow if you make seven semiannual payments of $3,000 at an 8% annual rate of interest? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $21,000.00
B) $19,320.00
C) $23,286.75
D) $18,006.30
E) $26,768.40

61) What amount can you borrow if you make seven semiannual payments of $4,000 at an 8% annual rate of interest? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $28,000.00
B) $25,760.00
C) $31,049.00
D) $24,008.40
E) $35,691.20

62) An individual is planning to set-up an education fund for her daughter. She plans to invest $7,600 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 9 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $94,905.76
B) $73,872.00
C) $54,720.00
D) $136,800.00
E) $49,541.36

63) An individual is planning to set-up an education fund for her daughter. She plans to invest $7,000 annually at the end of each year. She expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 9 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $87,413.20
B) $68,040.15
C) $50,400.40
D) $126,000.10
E) $45,360.25

64) An individual is planning to set-up an education fund for his grandchildren. He plans to invest $12,000 annually at the end of each year. He expects to withdraw money from the fund at the end of 9 years and expects to earn an annual return of 7%. What will be the total value of the fund at the end of 9 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $108,000.
B) $57,395.
C) $214,756.
D) $143,736.
E) $78,182.

65) An individual is planning to set-up an education fund for his grandchildren. He plans to invest $10,000 annually at the end of each year. He expects to withdraw money from the fund at the end of 10 years and expects to earn an annual return of 8%. What will be the total value of the fund at the end of 10 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $46,320
B) $67,107
C) $100,000
D) $144,866
E) $215,890

66) Clara is setting up a retirement fund, and she plans on depositing $4,200 per year in an investment that will pay 10% annual interest. How long will it take her to reach her retirement goal of $39,846? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) 9.49 years
B) 3.5 years
C) .105 years
D) 7 years
E) 14 years

67) Clara is setting up a retirement fund, and she plans on depositing $5,000 per year in an investment that will pay 7% annual interest. How long will it take her to reach her retirement goal of $69,082? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) 13.816 years
B) 0.072 years
C) 10 years
D) 20 years
E) 5 years

68) Chris wants to accumulate $108,000 in 4 years. He plans on making equal semiannual deposits into an investment account that earns 6% annually in order to reach his goal. How much must Chris invest every six months? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $13,069.06
B) $13,900.71
C) $15,385.32
D) $13,500.00
E) $12,145.34

69) Chris wants to accumulate $100,000 in 5 years. He plans on making equal semiannual deposits into an investment account that earns 12% annually in order to reach his goal. How much must Chris invest every six months? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $24,331.19
B) $10,153.39
C) $13,586.77
D) $10,000.00
E) $7,586.79

70) The Masterson family is setting up a vacation fund, and they plan on depositing $2,300 per quarter in an investment that will pay 12% annual interest. What amount will they have available for their vacation at the end of 2 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $18,400.00
B) $20,608.00
C) $20,452.29
D) $18,952.00
E) $19,520.56

71) The Masterson family is setting up a vacation fund, and they plan on depositing $1,000 per quarter in an investment that will pay 12% annual interest. What amount will they have available for their vacation at the end of 2 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $8,000.00
B) $8,960.00
C) $8,892.30
D) $8,240.00
E) $8,487.20

72) A company needs to have $190,000 in 5 years and will create a fund to ensure that the $190,000 will be available. If it can earn a 6% return compounded annually, how much must the company invest in the fund today to equal the $190,000 at the end of 5 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $178,600
B) $141,987
C) $254,249
D) $57,000
E) $133,000

73) A company needs to have $150,000 in 5 years and will create a fund to ensure that the $150,000 will be available. If it can earn a 6% return compounded annually, how much must the company invest in the fund today to equal the $150,000 at the end of 5 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $141,000
B) $112,095
C) $100,000
D) $45,000
E) $105,000

74) Jackson has a loan that requires a $16,400 lump sum payment at the end of four years. The interest rate on the loan is 5%, compounded annually. How much did Jackson borrow today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $15,580
B) $13,120
C) $11,098
D) $13,492
E) $14,801

75) Jackson has a loan that requires a $17,000 lump sum payment at the end of four years. The interest rate on the loan is 5%, compounded annually. How much did Jackson borrow today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $16,150.00
B) $13,600.10
C) $11,504.25
D) $13,985.90
E) $15,343.45

76) A company has $48,000 today to invest in a fund that will earn 4% compounded annually. How much will the fund contain at the end of 6 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $60,734
B) $49,920
C) $60,600
D) $59,520
E) $65,304

77) A company has $46,000 today to invest in a fund that will earn 4% compounded annually. How much will the fund contain at the end of 6 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.)

A) $62,582.05
B) $58,203.80
C) $47,840.40
D) $58,075.20
E) $57,040.10

Answer Key

Test name: Appendix B Test Bank - Algorithmic and Static

1) TRUE

2) FALSE

3) TRUE

4) TRUE

5) FALSE

6) TRUE

7) FALSE

8) TRUE

9) TRUE

10) FALSE

11) TRUE

12) FALSE

13) FALSE

14) FALSE

15) TRUE

16) TRUE

17) TRUE

18) TRUE

19) FALSE

20) TRUE

21) TRUE

22) FALSE

23) B

24) D

25) D

26) C

27) C

28) D

29) C

30) D

31) D

32) E

33) E

34) C

35) E

36) A

37) A

38) A

39) A

40) D

41) D

42) E

43) E

44) C

45) C

46) E

47) B

48) A

49) C

50) B

51) E

52) C

53) B

54) B

55) B

56) D

57) D

58) A

59) B

60) D

61) D

62) A

63) A

64) D

65) D

66) D

67) C

68) E

69) E

70) C

71) C

72) B

73) B

74) D

75) D

76) A

77) B