A person can invest $10,000 today at 10% per year in an investment account. If the interest is compounded quarterly, how much will the person have in the account at the end of eight years? (a) $21,436. (b) $12.184. (c) $22,037. (d) $4,538. 2. A company needs $500,000 to retire bonds in ten years. If the company can set up a savings fund that will earn 8% per year, compounded semiannually, how much must it put into the fund at the end of each six months in order to have the amount needed in ten years? (a) $16,791. (b) $17,688. (c) $34,515. (d) $36,791. 3. An individual wants to buy a car that costs $21,000. The person can make a down payment immediately of $3,000 and finance the remainder with monthly payments for five years. If the interest rate on the loan is 4%, compounded monthly, and payments are made at the beginning of each month, how much will the monthly car payment be? (a) $323.98. (b) $331.50. $336.94 $330.40. You want to have $100,000 available in five years to make a down payment on your dream house. If you can invest your money in an account that earns 9.75% per year, compounded monthly, how much must you invest at the beginning of each month in order to accomplish this? (a) $1,299.92. (b) $1,289.45. (c) $2,112.42. (d) $1,249.92