1. What is the future value of a 5 year ordinary annuity with annual payments of $400evaluated at a 15% annual interest rate?

2. Calculate the future sum of $5,000 given that it will be held in the bank for 5 years at an annual interest rate of 6% with semi-annual compounding.

3.You will receive $4000 in 5 years.The applicable discount rate is 5%.What is this amount worth today?

4.What is the present value of a 5 year ordinary annuity with annual payments of $200 evaluated at a 15% annual interest rate?

5.If you buy a house for $250,000 and the terms are 20% down with the balance to be paid off over 30 years at a 8% rate of interest on the unpaid balance, what are the 30 equal annual payments?

6.You are on vacation in Florida and you see an advertisement that promises $200 if you take a tour of a time-share condominium.However, the $200 that you would get is in the form of a savings bond that will not pay you the $200 for 10 years.Assume that the discount rate is 6% annually.

What is the $200 savings bond you would receive worth today?

7.You deposited $5,000 in a savings account that pays 8% annual interest which will be compounded monthly.Eighteen (18) months later you close out the account to go on vacation.How much money will you receive?

8.At what annual rate would $300 today have to be invested to grow to $422.10 in 7 years?

(Input the rate as a whole percentage number, e.g. if your answer was 8% then enter 8)

9.You would like to save up $1,000,000 in 45 years by making equal end of the year deposits into a tax-deferred account paying 6% annually.What must your annual deposit equal to achieve this goal?

10.Suppose you were considering depositing your savings in one of three banks, all of which pay 5% interest.

Bank A compounds annually; Bank B compounds monthly; Bank C compounds daily.

Which bank would you choose for the highest return?

11.What is the price of $100,000, 8%, four -year bonds paying interest semiannually and sold when the prevailing market rate is 10%?