calculate the present value of the compound interest loan. (Round your answers to the nearest cent.) $29,000 after 8 years at 5% if the interest is compounded in the following ways. (a) annually $ (b) quarterly

have just received $125,000 from the estate of a long-lost rich uncle. If you invest all your inheritance in a tax-free bond fund earning 6.2% compounded quarterly, how long do you have to wait to become a millionaire? (Round your answer to two decimal places.)

Second Peoples National Bank offers a long-term certificate of deposit earning 6.13% compounded monthly. Your broker locates a $20,000 zero-coupon bond rated AA by Standard & Poor's for $8965 and maturing in 14 years. Which investment will give the greater rate of return?

The Second Peoples National Bank offers a better rate of return. The zero-coupon bond offers a better rate of return.