Answer these four multiple choice questions: $1.$ The most important characteristic of money is:

a$.$ Store of value

b$.$ Backed by gold

c$.$ Unit of value

d$.$ Means of payment $2.$ Present value is higher, if:

a$.$ Lower future value, longer time period and higher interest rate

b$.$ Higher future value, shorter time period and lower interest rate

c$.$ Lower future value, shorter time period and lower interest rate

d$.$ Higher future value, longer time period and lower interest rate $3.$ What is the present value of a $$500$ investment to be made $5-$years from now at a $10\%$ interest rate:

a$.$ $$476\mathrm{.}73$

b$.$ $$387\mathrm{.}46$

c$.$ $$310\mathrm{.}46$

d$.$ $$192\mathrm{.}774.$ Compute the present value of a five$-$year, $5\%$ coupon bond at $4\%$ with a face value of $$1,000$:

a$.$ $$1,044\mathrm{.}52$

b$.$ $$1,141\mathrm{.}40$

c$.$ $$1,244\mathrm{.}52$

d$.$ $$1,091\mathrm{.}59$