Q8 What is the future value of an initial $1400 after 15 years if it is invested in an account paying 8% interest? $4441.04

Q9 What is the present value of $255 to be received in 6 years if the interest rate is 19%? $724.14

Q10a Sometimes we need to find out long it will take money to grow to some particular amount. For example, if a companys sales are growing at 8% per year, how long will it take sales to triple?

Q10b If you want the investment to double in 7 years, what interest rate must it earn?

Q11a What is the future value of a 12 year ordinary annuity of $480 if the interest rate is 7%? $522.80

Q11b What is the present value of the annuity?

Q11c What is the future value and present value if the annuity were an annuity due?

Q12 What is the present value of the following uneven cash flow: 100,300,700,-80? The interest rate is 9%.

Q13 Define the stated or quoted, or nominal rate and the periodic rate.

Q14 What is the future value of $550 after 16 years under 24% annual compounding? Semiannual compounding? Quarterly compounding? Monthly compounding?

Q15 What is the effective annual rate? What is the EFF% or EAR for a nominal rate of 19% compounded semiannually? Compounded quarterly? Compounded monthly? Compounded daily?

Q16 Construct an amortization schedule in excel for a $50,000 mortgage with an 4% annual rate loan with 5 installments. Show proof of the first four years. Use Figure 4-11 as an example