need help with #8

JUU Woday, $250 in two years, and vour investment account earns 9 percent per year, how much will You planu you have in five years? 000 in five years when the interest rate is 3 percent vears when the interest rate is 6 percent every six Which do you prefer: (1) receiving $1.000 in five years when quarter or (2) receiving $1.500 in six years when the interest rate is months? You have won a lawsuit and the court has arranged for the defendant to pay you $75 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? 10. An investment offers a return of 1 percent every month if you deposit a minimum of $20,000. 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