$19,000 is invested for 8 years at an annual simple interest rate of 16%. (a) How much interest will be earned? $ (b) What is the future value of the investment at the end of the 8 years? $ $20,000 is invested for 6 months at an annual simple interest rate of 3%. (a) How much interest will be earned? $ (b) What is the future value of the investment after 6 months? $ If you borrow $700 for 6 months at 8% annual simple interest, how much must you repay at the end of the 6 months? $ If you lend $3700 to a friend for 15 months at 8% annual simple interest, find the future value of the loan. $ If $5000 is invested at 9% annual simple interest, how long does it take to be worth $8150? yr What are the future value and the interest earned if $2600 is invested for 4 years at 8% compounded quarterly? (Round your answers to the nearest cent.) future value $ interest earned $ What interest will be earned if $6600 is invested for 6 years at 11% compounded monthly? (Round your answer to the nearest cent.) What lump sum do parents need to deposit in an account earning 15%, compounded monthly, so that it will grow to $90,000 for their son's college fund in 18 years? (Round your answer to the nearest cent.) What present value P amounts to $280,000 if it is invested at 7%, compounded semiannually, for 17 years? (Round your answer to the nearest cent.) P = $ 1 If $9,000 is invested at 9.5% compounded continuously, find the future value after 3 nearest cent.) years. (Round your answer to the 2 $ Suppose an individual wants to have exactly $300,000 available for her child's education. (a) Find the amount that would have to be invested at 13% compounded continuously, if the number of years until college is 7 years. (Round your answer to the nearest cent.) $ Find the future value if $9000 is invested for 9 years at 12% compounded annually. (Round your answer to the nearest cent.) $ (b) Find the amount that would have to be invested at 13% compounded continuously, if the number of years until college is 14 years. (Round your answer to the nearest cent.) $ What is the future value if $8500 is invested for 6 years at 11% compounded semiannually? (Round your answer to the nearest cent.) $ (c) Does leaving the money invested twice as long mean that half as much is needed initially? Explain. ○ Yes, at the given rate and amounts of time, investing half the amount for twice as long will result in an amount equal to the stated goal. No, at the given rate and amounts of time, investing half the amount for twice as long will result in an amount greater than the stated goal. No, at the given rate and amounts of time, investing half the amount for twice as long will result in an amount less than the stated goal.