1. Determine how much is in the account on the basis of the indicated compounding after the specified years have passed; P is the initial principal, and r is the annual rate given as a percent. (Round your answer to the nearest cent.)

P = $5400, r = 8.3%, compounded annually for 1 year.

$

2. Determine how much is in each account on the basis of the indicated compounding after the specified years have passed; P is the initial principal, and r is the annual rate given as a percent. (Round your answers to the nearest cent.)

after one year where P = $6900 and r = 7.9%

(a) compounded annually $ (b) compounded quarterly $ (c) compounded monthly $ (d) compounded weekly $ (e) compounded dail

3. Determine how much is in each account on the basis of the indicated compounding after the specified years have passed; P is the initial principal, and r is the annual rate given as a percent. (Round your answers to the nearest cent.)

P = $5600 and r = 3.7%, compounded annually

(a) after 4 years $ (b) after 9 years $ (c) after 15 years $ (d) after 27 years

4. Find the present value of the given amounts F with the indicated annual rate of return r, the number of years t, and the indicated compounding. (Round your answers to the nearest cent.)

F = $8400, r = 4.9%, t = 29

(a) compounded annually $ (b) compounded quarterly $ (c) compounded monthly $ (d) compounded daily $

5. The purchase price of an acre of land in the Louisiana purchase in 1803 was about 4 cents. Suppose the value of this property grew at an annual rate of 5.1% compounded annually. What would an acre of land be worth in 2016? $

6. One bank advertises a nominal rate of 3.2% compounded quarterly. A second bank advertises a nominal rate of 3.13% compounded weekly. What are the effective yields? (Round your answers to two decimal places.)

first bank		%
second bank		%

In which bank would you deposit your money?

first bank second bank

Please show work I'm very confused on these!