1- Meadow Company wants to invest its net profits of $104,000 for 10 years in either a credit union or a local bank. The credit union provides interest of 4.50% compounded monthly, while the local bank provides interest of 4.75% compounded semi-annually.

a. What would be the maturity value of the investment under the credit union option?

b. What would be the maturity value of the investment under the local bank option?

2- If you want to have $11,000.00 in 6 years and 6 months, how much should you deposit today in an investment fund that is earning interest at a rate of 2.00% compounded quarterly?

3- On August 18th, 2013, Joseph invested $15,000 in a fund that was growing at 6% compounded semi-annually.

a. Calculate the future value of the fund on April 11th, 2014.

b. On April 11th, 2014, the interest rate on the fund changed to 3% compounded monthly. Calculate the future value of the fund on April 6th, 2015.