1. Find the future value if $1,250 is invested in Simple interest account paying 6.5%: a. for 5 years b. for 20 years 2. Find the future amount $ 35,000 is invested for 30 years at 4.25% compounded: a. annually b. Quarterly c. monthly d. weekly 3. How much should be put into an account today that pays 7.75% compounded monthly if you need $10,000 in 5 years. 4. Find the effective rate for: a. 5.75% compounded quarterly b. 6.25% compounded daily. 5. $50 is invested at the end of each month into an account paying 7.5% compounded monthly. How much will be in the account after 5 years? 6. you invest $50 at the beginning of each month into an account paying 7.5% compounded monthly. how much will you have after 5 years? 7. you need $7,500 in 10 years to pay back a loan from your parents. how much should you put into an ordinary annuity each quarter to save this amount? the account pay 4.5% compounded quarterly?
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