The answer IS: Problem 15 What is the future value of 26 invested for 32 years at an average rate of return of 7%? The answer is: If interest is compounded quarterly, how much will you have in a bank account? The answer is: (a) If you deposit today. 8,000 at the end of 3 months, if the bank pays 5.0% APR? The answer is: (b) If you deposit today. 10,000 at the end of 6 months, if the bank pays 9.0% APR? The answer is: (c) If you deposit today. 80,000 at the end of 12 months, if the bank pays 8.0% APR? The answer is: (d) If you deposit today 5,000 at the end of 24 months, if the bank pays 5.0% APR and compound monthly? The answer is: Problem 16 Find the future value of 100,000 for 15 years. The current five-year rate is 6%. Rates for the second and third five- year periods and expected to be 6.5% and 7.5%, respectively. 3