1. A debt of $8000 is payable in 6 years and 5 months. Determine the accumulated value of the debt in 10.8% compounded annually 2. How many years will it take for $7000 invested at 6% compounded monthly. to grow to $15000? 3. You deposit $10 at the end of each month for five years in an account paying 6% compounded quarterly. 4. How many payments will it take for your bank accounts to grow to $7000 if you deposit $150 at the end of each month at the account earns 8% compounded monthly. * 8 points 1 2 3 PV=FV(1+i)^- FV=PV(1+i)^n n f= C=rate 12= (1+i)^m- freq./payment (1+i)^c- 1 frequency 1 FV=PMT [(1+i)^n- [1]/i