Answer all of these questions with the right question number next to the correct choice. ANSWER ALL OR NONE

8-If your invest $4,050 today, what interest rate would you need to earn in order to have $5,500 at the end of 5 years?

A)5.79%

B)6.31%

C)0.06%

D)1.36%

9-When is the EAR equal to the APR?

A)When interest is compounded quarterly

B)When interest is compounded annually

C)When interest is compounded monthly

D)When interest is compounded semi-annually

10-The owner plans to invest the profits from his dealership in an attempt to raise capital to open a brand new used car lot somewhere down the line. If he invests $200,000 today at 6% compounded monthly, how much will the owner have in 6 years?

A)$285,152.18

B)$286,408.86

C)$285,900.56

D)$283,703.82

11-What if the new cars that the owner/salesman plans to buy are delayed by 3 months? Assuming that he deposits $280,000 today at 7% compounded quarterly, how much money will he have when the cars ship in 1 year and 3 months?

A)$300,120.53

B)$304,710.73

C)$305,372.64

D)$294,958.75