1) What is the future value if $8800 is invested
for 5 years at 9% compounded semiannually? (Round
your answer to the nearest cent.)
$_____
2) What interest will be earned if $6800 is invested
for 5 years at 13% compounded monthly? (Round your
answer to the nearest cent.)
$_____
3) What lump sum do parents need to deposit in an account
earning 14%, compounded monthly, so that it will grow to
$90,000 for their son's college fund in 15 years?
(Round your answer to the nearest cent.)
$ _____
4) What present value P amounts to
$300,000 if it is invested at 7%, compounded
semiannually, for 13 years? (Round your answer to the
nearest cent.)
P = $ _____
5) If $7,000 is invested at 9.5% compounded
continuously, find the future value after 6 1/2 years. (Round
your answer to the nearest cent.)
$_____