Which of the following statements is false regarding closed-end funds?

You own 100 shares of a mutual fund that you purchased two years ago for $33 per share. The shares are currently worth $36 each, and the fund has paid you a dividend of $2 per year.  What is your return on investment for the whole two-year period and your annualized return on investment?

Polly Khan wants to save for her son’s college education for when he enters college in [yrs] years. She wants to pay for his tuition at her alma mater, Arizona State University, where tuition currently costs $12,172 per year. Polly assumes tuition inflation will be [inflation]%. The 529 plan she started on her son, which currently has $[currsav],000 in it, has been averaging a return of [invrate]%. She will use that account to save for his schooling. With this information, you determined that she needs to have saved $[savingsgoal],000 by time her son starts college. Calculate the amount that Polly needs to save monthly to meet her goal (remember to include her current savings in your calculation). Round your final answer to two decimals.

The first step in the estate-planning process is to 

You have no money for a down payment but can afford $400 per month for a car payment. If the bank is willing to offer you 3.0% for a 36-month loan, what is the maximum loan can you afford? 

The bank requires the mortgage debt service ratio to be at or under [ratio]%. John currently earns a gross income of $[income] per month. What is the maximum monthly payment amount John can expect to qualify for? Enter your answer as a dollar amount (no $ sign). Round to 2 decimal places.

Janine plans to invest a certain amount of money at the end of each month for five years. She wants to know how much her investment will be worth at the end of the five years. Which type of time value of money calculations should she use to figure this out?

Richard’s monthly gross income is $[gross], and his monthly disposable (after-tax) income is $[disposable]. He saves approximately $[savings] each month. Question: What is Richard’s savings ratio? Enter your answer as a percentage rate rounded to 1 decimal place, without the % sign. (Example: 0.212 would be reported as 21.2)

Which of the following is generally an advantage of a market order over a limit order?

Which of the following is usually a variable monthly expense for typical households?