1.) Mr. and Mrs. Smith are planning to retire in 20 years and believe that they will need $200,000 in addition to income from their retirement plan. How much must they invest today at 7.5% compounded quarterly to accomplish their goal?

2.) John invests $5000 for 5 years at 6.75% compounded daily (use 360 day year). a. Find the total amount in the account at the end of 5 years.

b. Find the interest earned.

3.) What will a $175,000 house cost 18 years from now if the price appreciation for homes over that period averages 2.5% compounded annually?

4.) Jack invests $4350 in a savings account paying 5.15% compounded quarterly. How much is in the account after 18 months?