MC08. 7&8

Question 7 1 pts John Nguyen is depositing $17,500 in an account paying an annual interest rate of 8.25 percent compounded monthly. What is the interest on interest after six years? Which formula in B50 will calculate the answer? none of the answers is correct =B44+B45+B49=B49B45B44=B45B44B49=B44B45B49 Question 8 1 pts You need to have $15.000 in five years to pay off a home equity loan. You can invest in an account that pays 5.75 percent compounded quarterly. How much will you have to invest today to attain your target in five years? (Round to the nearest dollar.) Which formula in B77 will calculate the answer? =PV(B79B81,B80/B81,0,B78)=PV(B79/B81,B80B81,0,B78)=FV(B79B81,B80/B81,0,B78)=FV(B79/B81,B80B81,0,B78) none of the answers is correct Question 7 1 pts John Nguyen is depositing $17,500 in an account paying an annual interest rate of 8.25 percent compounded monthly. What is the interest on interest after six years? Which formula in B50 will calculate the answer? none of the answers is correct =B44+B45+B49=B49B45B44=B45B44B49=B44B45B49 Question 8 1 pts You need to have $15.000 in five years to pay off a home equity loan. You can invest in an account that pays 5.75 percent compounded quarterly. How much will you have to invest today to attain your target in five years? (Round to the nearest dollar.) Which formula in B77 will calculate the answer? =PV(B79B81,B80/B81,0,B78)=PV(B79/B81,B80B81,0,B78)=FV(B79B81,B80/B81,0,B78)=FV(B79/B81,B80B81,0,B78) none of the answers is correct