The following problems based on Chapter 4 are set to give some practice with compounding more than once-a-year problems. Round off your final answers to two decimal points.

What is the future value of $5,000 in 10 years at 5%, compounded monthly?

What is the future value of $10,000 in 8 years at 8%, compounded quarterly?

If you receive $10,000 in 5 years, what is its value today if the appropriate interest rate is 8% and interest is compounded semi-annually?

If you received $10,000 5 years back, what is its value today if the appropriate interest rate is 8% and interest is compounded monthly?

At what annual rate of return can you triple your money in 8 years if interest is compounded monthly?

At what annual rate of return can you quadruple (means 4 times) your money in 16 years if interest is compounded quarterly?

How many periods will it take you to quadruple (means 4 times) your money at 7%, if interest is compounded semi-annually? how many years will it take?

How many periods will it take $500 to grow to$8,000 if you believe you can earn interest at the rate of 9% compounded monthly? how many years will it take?

What is the present value of $15,500 received in 10 years if the interest of 1% is compounded monthly?

What is the present value of $22,000 received in 5 years if the interest of 1% is compounded quarterly?