1.How long will it take $3,000 to grow to $13,000 if it is invested at 4% compoundedmonthly?

___ years (round to nearest tenth of a year)

3.Find the future value of an ordinary annuity of $300 per quarter for 3 years at the rate of 9% compounded quarterly.

The future value of the annuity is $_____ (Do not round until the final answer. Then round to the nearest cent asneeded.)

7.A bank account pays 5.5% annualinterest, compounded monthly. How much must be deposited now so that the account contains exactly $13,000 at the end of two years?

_________ must be deposited now so that the account contains exactly $13,000 at the end of two years.

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

8.A trust fund for a 9-year-old child is being set up by a single payment so that at age 21 the child will receive $39,000. Find how much the payment is if an interest rate of 4% compounded semiannually is assumed.

The payment is $_______