Explain the questions and shows me how to do it using a financial calculator: How long does it take for a given sum of money to triple if the interest rate is $0\mathrm{.}04$ percent per day.

The correct answer $($rounded up to whole days$)$ is:

A$.2,894$ days

B$.3,848$ days

C$.4\mathrm{.}357$ days

D$.2,748$ days

E$.$ The answer cannot be determined with the information provided.

Mary deposits $$16,000$ to a savings account that pays interest at $2\mathrm{.}5\%$ per quarter. The account

balance at the end of $12$ years will be $($to the closest dollar$)$:

A$.$ $$21,518$

B$.$ $$52,344$

C$.$ $$35,200$

D$.$ $$30,877$

E$.$ $$45,285$

Jack and Jill want to get married $5$ years from now. They expect the wedding to cost $$60,000.$ To

save for the wedding they establish an annuity account in a bank that pays interest at $0\mathrm{.}75\%$ per month.

How much should J&J contribute monthly $-$ assume the contributions are made end of every month. The

answers are provided to the nearest dollars and cents.

A$.$ $$1,000\mathrm{.}00$

B$.$ $$950\mathrm{.}18$

C$.$ $$1,245\mathrm{.}50$

D$.$ $$795\mathrm{.}50$

E$.$ $$839\mathrm{.}76$

Which one of the following cannot be computed?

A$.$ Future value of an ordinary annuity

B$.$ Future value of a perpetual annuity

C$.$ Present value of a perpetuity

D$.$ Present value of an annuity due

E$.$ Present value of an ordinary annuity

Your car dealer is willing to lease you a new car for $$299$ a month for $60$ months. Payments are due

on the first day of each month starting with the day you sign the lease contract. If your cost of money

$($that is the interest rate$)$ is $0\mathrm{.}4083$ percent per month, what is the current value of the lease? The figures

shown are rounded to whole dollars.

A$.$ $$15,883$

B$.$ $$15,906$

C$.$ $$15,948$

D$.$ $$16,235$

E$.$ $$16,290$