Question
1. What is the annual interest rate required to achieve a future value of $3,543.12 after six years if you invested $2,000? A. 8 percent
1. What is the annual interest rate required to achieve a future value of $3,543.12 after six years if you invested $2,000? A. 8 percent B. 8 percent C. 10 percent D. 11 percent E. 12 percent
2. What is the present value of $3,543.12 received in six years if the discount rate is 7.5 percent? A. $2,215.10 B. $2,055.17 C. $2,295.81 D. $2,175.14 E. $2,375.71
3. Steven invested $3,000 in a savings account 35 years ago which was accruing interest at the rate of 4.2 percent per year. What was the value of his investment account at the end of 35 years? A. $10,771.58 B. $17,911.98 C. $12,661.68 D. $11,771.78 E. $12,514.88
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