ANSWERS ARE GIVEN. I JUST NEED THE FORMULA. PLEASE ASAP.

4. $15,000 is deposited for 4 years in an account earning 8% interest. Calculate the future value

of the investment if interest is compounded semiannually. ANS.$20,528.54

5. To help pay your college expenses, you borrow $7000 and agree to repay the loan at the end

of 5 years at 8% interest, compounded quarterly.

a. What is the maturity value of the loan? ANS. 10,401.63

b. How much interest are you paying on the loan? ANS. 3401.63

6. You want to retire in 30 years with $1,000,000 in investments.

a. How much money would you have to invest today at 9% interest, compounded daily, in order

to have $1,000,000 in 30 years? ANS. $67,228.19

b. How much will the $1,000,000 generate in interest each year if it is invested at 9% interest,

compounded daily? ANS.$94,161.98

7. Kelly Ang buys a computer system for $2400 and makes a 15% down payment. If Kelly

agrees to repay the balance in 24 equal monthly payments at an annual simple interest rate of

10%, estimate the APR for Kelly's loan ANS.19.2%

8. Arrowood's Camera Store advertises a Canon Power Shot S95 camera for $400, including

taxes. If you finance the purchase of this camera for 1 year at an annual percentage rate of 6.9%,

find the monthly payment ANS.$34.59

9. Angela Montery has a five-year car loan for a Jeep Wrangler at an annual interest rate of 6.3%

and a monthly payment of $603.50. After 3 years, Angela decides to purchase a new car. What is

the payoff on Angela's loan? ANS.$13,575.25

10. A bond with an $8000 face value has a 3.5% coupon and a 3-year maturity. What is the total

of the interest payments paid to the bondholder? ANS.$840

11. A mutual fund has total assets of $15 million and total liabilities of $1 million. There are 2

million shares outstanding. You invest $5000 in this fund. How many shares will you purchase?

ANS.714 shares