6.

It is now the beginning of the year. Assume that, starting at the end of the year, you will make deposits of $324 each year into a savings account. You will make a total of 12 annual deposits. If the savings account interest rate is 8%, how much money will you have at the end of year 12? (In other words, what is the future value of this annuity?) Enter your answer in dollars, rounded to the nearest cent (2 decimals).

Question 7 Assume that you wish to make annual deposits into a savings account. The interest rate offered by the bank is 12%, and you plan to save for the next 4 years. If your goal is for the present value of your savings to be equal to $2,659, how much money must you deposit every year? Enter your answer in dollars, rounded to the nearest cent (2 decimals).

Question 8 You are considering making a one-time deposit of $6,224 today, in a bank that offers an interest rate of 4% APR. If you leave your money invested for 7 years, how much money will you have at the end of this period? Consider monthly compounding. Enter your answer in terms of dollars, rounded to the nearest cent, but without the dollar sign.

Question 9 After a 1 year investment you receive 6.8% interest (nominal) from your bank. However, looking at how prices have changed, you soon realize that the real rate of interest was actually 3.9%. How much was inflation during that year? Enter your answer as a percentage, rounded to 2 decimals, and without the percentage sign ('%'). For example, if your answer is 0.02345, then enter 2.35

Question 10 You are offered a court settlement in the following terms: you will receive 5 equal payments of $8,039 each every year, with the first payment being made 5 years from now. The current annual interest rate is 4%. Assume yearly compounding. What is this settlement worth in present value terms? Enter your answer in the form of dollars, rounded to the nearest cent, and without the dollar sign ('$').