7.

$3,947 deposited four years ago has grown to $5,000. What semiannually compounded rate of interest has the bank been paying?

Group of answer choices

5.26%

6.00%

3.00%

6.67% 8.

If you invest the $10,000 you receive at graduation (age 22) in a mutual fund which averages a 12% annual return, how much will you have at retirement in 40 years?

Group of answer choices

$909,090

$930,510

$783,879

$510,285 9.

Your grandparents put $1,000 into a savings account for you when you were born 20 years ago. This account has been earning interest at a compound rate of 7 percent. What is its value today?

Group of answer choices

$3,870

$1,967

$3,026

$3,583