Chris Spear invested $16, 010 today in a fund that earns 6% compounded annually. To what amount will the investment grow in 2 years? To what amount would the investment grow in 2 years if the fund earns 6% annual interest compounded semiannually? 2 Tony Bautista needs $21, 660 in 4 years. What amount must he invest today if his investment earns 8% compounded annually? What amount must he invest if his investment earns 8% annual interest compounded quarterly? 3 John Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. John has recently come into an inheritance of $447, 900. He estimates that the boat he wants will cost $328, 400 when he retires in 6 years. (Use the tables below.) How much of his inheritance must he invest at an annual rate of 11% (compounded annually) to buy the boat at retirement? 4 John Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. John has recently come into an inheritance of $419, 800. He estimates that the boat he wants will cost $322, 800 when he retires in 6 years. Assuming quarterly compounding of amounts invested at 8%, how much of John Fillmore's inheritance must be invested to have enough at retirement to buy the boat? Leon Tyler's VISA balance is $656.95. He may pay it off in 12 equal end-of-month payments of $70 each. (Use the table below.) What interest rate is Leon paying