1. you placed $7,003 in a savings account today that earns an annual interest rate of 15 percent compounded annually. How much will you have at the end of 8 years? Assuming that all interest earned each year is reinvest next year.

2. Upon graduating from college, you make an annual salary of $81,829. You set a goal to double it in the future. If your salary increases at an average annual rate of 6.97 percent, how long will it take to reach your goal?

3. To what amount will the following investment accumulate? $26,199, invested today for 19 years at 19.41 percent, compounded monthly.

4. For the next 10 years, you decide to place $2,243 in equal year-end deposits into a savings account earning 12.54 percent per year. How much money will be in the account at the end of that time period?

1. You have just purchased an investment that generates the following cash flows for the next four years. You are able to reinvest these cash flows at 12.6 percent, compounded annually.

End of year

1.$1,899

2.$2,158

3.$366

4.$536

What is the present value of this investment if 12.6 percent per year is the appropriate discount rate?