Please make sure you show me how you have arrived at your calculations. For example, if you are using a formula in excel, make sure you show me the formula so that I can help you if you have done it wrong. (so I would want you to show me that you calculated the present value like this =PV(5%,60,-1000,0,0) so that I can see where you made a mistake. If you just give me the answer then I can?t help you see where you went wrong.

Module 8 Chapter 8 Exercises and Problems Be sure to show your work. If you are using excel (which I highly recommend) make sure you write down what you entered for: PV FV RATE NPER TYPE PMT should be 0 for this week 1. You deposit $ 760 in an account one time that compounds monthly at 2 percent. How much will you have in your account at the end of 10 years? 2. A balloon payment of $ 21,000 on your house is due in 10 years. If you can earn an average of 5 percent per year for the 10- year period, how much must you place into an account today to have the $ 21,000 in 10 years? 3. If you want an effective rate of 5 percent, what is an acceptable quoted rate if money is compounded monthly? 4. If inflation averages 4 percent per year, how much purchasing power will $ 1.00 lose in 10 years? 5. At the beginning of each year, you deposit the following into a growth mutual fund that earns 6 percent per year: Year Deposit 1 5,000.00 2 7,500.00 3 4,500.00 4 5,500.00 5 6,200.00 Total 28,700.00? How much should the fund be worth at the end of 5 years? 6. Rochelle Kotter wants to attend a university 5 years from now. She will need $ 88,000. Assume Rochelle's bank pays 3 percent interest for a 5- year CD compounded monthly. What must Rochelle deposit today to accumulate $ 88,000 in 5 years? Points 16.67 each