1. Assume that 1 year from now you plan to deposit $4,500 in a savings account that pays a nominal rate of 9%. a) If the bank compounds interest annually, how much will you have in your account 4 years from now? b) What would your balance be 4 years from now if the bank used quarterly compounding rather than annual compounding?

.2. Suppose you deposited the $4,000 in 4 payments of $1000 each at the end of Years 1, 2, 3, and 4. How much would you have in your account at the end of Year 4, based on 8% annual compounding?

3. You have $100,000 in a brokerage account, and you plan to deposit an additional $20,000 at the end of every future year until your account totals $700,000. You expect to earn 13% annually on the account. How many years will it take to reach your goal?

4. Eve wants to accumulate $60,000 for a down payment on a home 5 years from now. She will do this by making a deposit at the end of each month in an account earning 8% interest compounded monthly. How much should she deposit each month?

5. Mr. Adam requires $16,000 at the beginning of each year from 2015 to 2019. How much should he deposit at the end of each year from 2005 to 2010, if the interest rate is 13% per year.

6.A land development company is considering the purchase of a building for $350,000, They estimate that they will receive $35,000 at the end of each year for the next 10 years. The investment will be worth nothing after maturity. What will be the rate of return for the investment compounded annually?