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mpts 00> Question 10 (0.15 points) You want to invest an amount today that will last for 6 years and allow you to withdraw $425 at the end of each 6-month period. You earn 4% APR compounded semiannually on your investment. How much do you need to invest today to achieve your goal? Your Answer: 13 Answer Hide hint for Question 10 Use the 'PV tab on the online financial calculator. Divide the quoted annual interest rate by 2 to determine the exact interest rate over 6-month periods number of years to the number of 6-month periods him 3 Question 11 (0.15 points) You plan to deposit $125 each month into an IRA earning 1.00% interest monthly. How much will you have in your account in 20 years? Your Answer: Answer 8 View hint for Question 11 10 e 3: Question 12 (0.15 points) You have a child who will start college in 5 years, and you plan to set aside $1,000 a year for her college education during that period. You estimate that you will earn an annual interest rate of 6% on your investment. What amount can you expect to have available for your child when they start college? Your Answer: Question 13 (0.15 points) You save $1500 a year into a 401(k) account that you invest in a mutual fund earning 8% per year. You plan to retire in 35 years. How much money will you have in your account at retirement? Your Answer: 5 B Answer 10 View hint for Question 13 age 3: Question 14 (0.15 points) You just bought a used car for $10,000 with no down payment using dealer financing at 4% APR compounded monthly. If you make monthly payments of $325, how many months will it take you to payoff the loan? Vorur Anwar ******** KULIT Question 15 (0.15 points) You have $30,000 in your account that you want to grow to triple that amount in 20 years. What annual rate of return is necessary to reach your goal? (Note: Enter your answer is a decimal, not a percentage. For example, enter 0452 instead of 4.52%) Your Answer: Answer View hint for Question 15 Page 3 of 4 Previous Page Next Page