1. $10,000 was deposited into an investment account earning interest at a nominal rate of 9% compounded monthly for eight years. How much interest was earned in the fifth year?

2. Jim deposits $5000 in an account earning j12 = 9%. He leaves it there for 5 years. How much interest did he earn in the last year (that is, between years 4 and 5)?

3. Rank the following interest rates in the order in which they would give the highest to lowest amount of interest on an investment:

a. j2 = 15.25%

b. j4 = 15.1%

c. j12 = 14.85%

4. You invest $5000 into a fund paying interest at j6 = 9%. How much is in the fund after 3 years?

5. What is the total amount of interest earned between the end of 18 months and the end of 36 months on an investment of $1000 if the interest rate is j12 = 9%?

6. What simple interest rate, r, is equivalent to j12 = 9% over a 2-year period?

7. What nominal interest rate compounded semi-annually is equivalent to j52 = 13%?

8. What is the accumulated value of $15,000 over 6 years and 5 months if j4 = 10% and the exact method of accumulating is used?

9. You invest $20,000 today in a fund earning interest at j1 = 4%. How much will you have in 5 years, 270 days if the exact method of accumulating is used?

10. You invest $2130.22 today. Four and a half years later, you see that this investment has grown to $3316.08. What nominal rate of interest, j12, have you been earning?

11. $15,000 is invested into an account that earns interest at j4 = x%. There are no other deposits made into the account. At the end of 15 years, the accumulated value of the account is $45,000. Determine x.

12. An investment doubles in 9 years. What nominal rate of interest j4 is being earned?