2. Barnie invests $356.98 in an account that pays 3.7% interest compounded quar-

terly. How much will he have in the bank if he leaves the money in the account for 3 years?

3. Cassandra saves her money from her paper route. She earns $100 a week for the next 5 years and puts the money in the bank. If the bank account earns 6.2% compounded weekly, how much will she have in the account at the end of the 5 years?

4.Darius goes to the bank to redeem the CD that his grandmother bought for him when he was younger. He starts talking with the teller and she mentions what a great interest rate the CD earned. When his grandmother purchased the CD, it earned 13.5% compounded quarterly and she bought it 30 years ago. Darius is about to walk out with $10,000. How much did Darius grandmother purchase the CD for?

5. Ellaina is thinking about retirement and goes to a financial planner to discuss her budget and goals. They decide she will need to receive about $3,600 a month to live comfortably in retirement. Ellainas family history and health suggest shell probably live about 30 years in retirement. The financial planner says for that many years, she can expect to earn 7.3% compounded monthly. How much will Ellaina have to have saved for retirement?

6. Frances wants to have $1,500 in 6 months. A friend offers to pay her interest at a rate of 8% simple interest. How much does she need to give the friend now to have the $1,500 in 6 months?

7. Ginny is planning to buy a home in five years and wants to make a sizable down payment. She wants to put 40% down on the house for a house that will cost $250,000. If she can earn 6% compounded monthly at a bank, how much will she have to save per month to meet her goal?

8.Hermonie is buying a Tesla roadster for $109,000. She was able to get financing for 7 years at 1.9% interest compounded monthly. How much will her monthly payments be to pay for the car?

9. Inigo is planning to buy a sword. He goes to the local sword maker and is told that the sword he wants costs $5,000. Unfortunately, Inigo cant afford to pay $5,000, but can pay $700 every 3 months over the course of 2 years. If the sword maker agrees to this deal, what interest rate will Inigo be paying?

10. Jack has a friend, Mike, who recently sold his car to another friend, Sally. Sally agreed to pay Mike $10,750 in 9 months 4 months ago and signed a note to that effect. Unfortunately, Mike needs some cash now. Jack agrees to take the note off of Mikes hands for $10,300. What annual simple interest rate will Jack earn when Sally pays him at the end of the time period?

11.Kari wants to save for her kids college education. She expects to need $75,000 in 17 years. If she can afford to save $225 per month, what interest rate must she earn each month to be able to make her goal?

12. Larry received an inheritance of $25,000 he plans to invest in an account that pays interest compounded monthly. What interest rate must the money earn to have $1,000,000 in the bank in bank when he retires in 40 years?