Q$1$

Calculate the accumulated value after ten years of payments of $$1000\mathrm{.}00$ made at the end of quarter if interest is $8\%$ compounded monthly.

a$)45,667\mathrm{.}54$

b$)60,577\mathrm{.}27$

c$)54,354\mathrm{.}22$

d$)41,779\mathrm{.}08$

Q$2$

If $$17,000$ is invested at $9\%$ per year, in approximately how many years will the investment double?

a$)8\mathrm{.}04$

b$)4\mathrm{.}96$

c$)6\mathrm{.}02$

d$)9\mathrm{.}51$

Q$3$

Sara wants to have $$550,000$ in her savings account when she retires. How much must she put in the account now, if the account pays a fixed interest rate of $10\%,$ to ensure that she has $$550,000$ in $20$ years?

a$)78,781\mathrm{.}00$

b$)4,682,460\mathrm{.}05$

c$)81,754\mathrm{.}00$

d$)31,501,249\mathrm{.}72$

Q$4$

What is the present value $($PV$)$ of $$300,000$ received five years from now, assuming the interest rate is $12\%$ per year?

a$)170,228\mathrm{.}06$

b$)186,276\mathrm{.}40$

c$)528,702\mathrm{.}50$

d$)1,081,432\mathrm{.}86$

Q$5$

How long will it take $$51,000$ placed in a savings account at $8\%$ interest to grow into $$76,000?$

version $2$