17. A six-month $6000 treasury bill sold for $5736. What was the simple annual discount rate?

The discount rate was _____%.

(Type an integer or decimal rounded to one decimal place as needed.)

18. Find the compound amount for the deposit and the amount of interest earned. $7100 at 3% compounded quarterly for 2 years

The compound amount after 2 years Is

$____.

(Do not round until the final answer. Then round to the nearest cent as needed.)

19. Find the present value (the amount that should be invested now to accumulate the following amount) if the money is compounded as indicated.$9200 at 2% compounded quarterly for 3 years

The present value is $_________.

(Do not round until the final answer. Then round to the nearest cent as needed.)

20. A person wants to invest $23,000 for 2 years and is considering two different investments. The first investment, a money market fund, pays a guaranteed 5.2% interest compounded daily. The second investment, a treasury note, pays 5.4% annual interest. Which investment pays the most interest over the 2-year period?

Select the correct choice below and, if necessary, fill in any answer box(es) to complete your choice.

(Do not round until the final answer. Then round to the nearest cent as needed.)

A.Both the market fund and the treasury note produce the same interest with$______.

B.The treasurynote is the better investment, since the market fund produces $______ in interest, and the treasury note pays $___ in interest.

C.The marketfund is the better investment, since the market fund produces $____ in interest, and the treasury note pays $______ in interest.

21.A company has agreed to pay $3.5 million in 7 years to settle a lawsuit. How much must it invest in an account paying 8% annual interest compounded monthly to have that amount when it is due?

What is the interest rate per period?

i=enter your response here

(Type an integer or decimal rounded to four decimal places as needed.)