a. (Assuming all other factors remain constant) When calculating a PV, if the discount (interest) rate is LOWER, what will the effect be?

	The PV will be higher
	The PV will be lower
	Cannot tell what would happen without more information
	The PV will remain the same.

b. (Assuming all other factors remain constant) When calulating FV, if the interest rate is HIGHER, what will be the effect?

	The FV will be higher
	There will be no effect on the FV
	The FV will be lower
	Cannot tell what would happen in this case without more information.

c. Your company's receivables turnover ratio decreases from 17 to 13. Which of the following best describes what has happened?

	You are taking longer to collect your receivables.
	Your company's sales have definitely increased.
	Your company's sales have definitely decreased.
	You are collecting your receivables more quickly.

c. Your company's inventory turnover ratio decreased from 35 to 16. What does this mean?

	You have become less efficient at managing inventory.
	Your sales have definitely increased.
	You are selling all of your inventory more frequently.
	You are selling through all your inventory every 16 days.

d. Your company's profit margin is up. What is a possible cause of this?

Question 9 options:

	COGS has increased.
	Sales have decreased.
	SG&A expenses have increased.
	You have decreased your interest expense.

e. You invested $3,950 in an original Salvador Dali 'melted clocks' painting 30 years ago. The painting has increased in value at a rate of 10% per year. How much is it worth now.

	$70,456
	$76,101
	$68,925
	$81,344

Please answer each part. Thank you in advance for your consideration.