Question
Hello these are sample questions for my test that is very soon we are allowed scientific calculators and a review sheet with any formulas and
Hello these are sample questions for my test that is very soon we are allowed scientific calculators and a review sheet with any formulas and definitions that we may need i need assembly this sheet, can you please give any formulas or definitions i might need for the test
18) Suppose that you invested $100 in a bank account that earned an annual rate of return of 10%. How much would you have in that bank account at the end of 10 years?
A) $259.37
B) $238.55
C) $293.74
D) $214.46
E) $279.23
23) Your great-uncle placed $500 a year in a bank account for your "college fund" for each of the last 18 years. How much is now in your college account (at the end of the eighteenth year) if your account earned an annual rate of return of 6%?
A) $15,452.83
B) $15,175.17
C) $16,427.17
D) $15,413.80
E) $15,546.18
16) Suppose that you had deposited $100 in a bank account for each of the last 5 years. What annual interest rate is attached to this account if there is now (at the end of the fifth year) $758.92 in the account?
A) 10%
B) 16%
C) 19%
D) 21%
E) 23%
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