1. Simple vs. Compound Interest

Educators Credit Union pays 7 percent simple interest on its savings account balances, whereas Landmark Credit Union pays 7 percent interest compounded annually. If you made a deposit of $7,900 in each credit union, how much more money would you earn from your Landmark Credit Union account at the end of 10 years?

2. Future Value

For each of the following, compute the future value:

Present value	years	Interest rate
$ 2,960	7	13	%
$ 7,486	16	7
$ 85,381	19	9
$ 221.614	26	5

3. Present Value

For each of the following, compute the present value:

years	Interstate rate		Future value
15	7	%	$ 19,415
8	11		$47,382
13	10		$ 312,176
25	13		$ 629,381

4. Calculating Interest Rates

Solve for the unknown interest rate in each of the following:

Present Value	Years	Future Value
$715	9	$1,381
$905	12	1,718
$15,000	26	$141,832