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Student Name (Please Print) 19) Tom deposits $15.000 into a bank account that pays 6% Interest compounded quarterly, what will the account balance be in 8 years? A. 18,001 B. 19,250 C. 22,112 D. 24,155 20) How much money must be put into a bank account yielding 6.42% (compounded annually) in order to have $1,671 at the end of 11 years (round to nearest $11? A. $921 B. $886 C. $843 D. $798 21) Biff deposited $9,000 in a bank account, and 10 years later he closes out the account, which is worth $18,000. What annual rate of interest has he earned over the 10 years? A. 6.45% B. 7.18% C. 9.10% D. 10.0% 22) You have contracted to buy a house for $250,000, paying $30,000 down and taking out a fully amortizing loan for the balance, at a 5.7% annual rate for 30 years. What will your monthly payment be if they make equal monthly installments over the next 30 years to the nearest dollar)? A. $1,035 B. $1.123 C. $1,189 D. $1,277 23) if you invest $750 every six months at 8 percent compounded semiannually, how much would you accumulate at the end of 10 years? A. $10,065 B. $10,193 c. $22,334 D. $21,731 Page 5 of 12