#7

What is the future value of $5,500 invested at the end of each quarter for ten years if money earns 16 percent compounded quarterly?

$220,000.00

$108,860.40

$26,405.50

$522,640.25

#8

What is the present value of a retirement account if you receive $15,000 per quarter at the end of each quarter for 15 years and money earns 12 percent compounded quarterly?

$559,195.50

$415,134.00

$1,131,019.50

$4,599.00