need help with #10

$250 in two years, and You pla $1,000 in three years. If your investment account earns 9 percent per year, how much will 6. you have in five years? Which do vou prefer: (1) receiving $1,000 in five years when the interest rate is 3 percent per quarter or (2) receiving $1,500 in six years when the interest rate is 6 percent every six 7 months? You have won a lawsuit and the court has arranged for the defendant to pay you $7,500 per year for the next three years. If the appropriate discount rate is 8 percent, what is the value of your settlement today? Last year, you borrowed money from Cousin Vinnie and he agreed to a 25 percent interest rate per year. If you borrowed $250, and know you have to pay him in full exactly $488.28 (and make no other payments to him), what will be the total length of the loan? 9. An investment offers a return of 1 percent every month if you deposit a minimum of $20,000. 10. If you make the minimum deposit today and do not make any additional deposits, how much will you have in your account in 20 years? FINC 3610-Yost