1. 1. You deposit $200 in an account earning 6% interest compounded annually. How much will you have in the account in 15 years?
2. 2. You deposit $3000 in an account earning 8% interest compounded monthly. How much will you have in the account in 5 years?
3. 3. How much would you need to deposit in an account now in order to have $2000 in the account in 10 years? Assume the account earns 7% interest compounded monthly.
4. 4. Find the time required for an investment of 5000 dollars to grow to 8300 dollars at an interest rate of 7.5 percent per year, compounded quarterly. Round your answer to two decimal places.  answer is t=? years

5. You currently have $4,700 (Present Value) in an account that has an interest rate of 3% per year compounded quarterly (4 times per year). You want to withdraw all your money when it reaches $7,050 (Future Value). In how many years will you be able to withdraw all your money? The number of years is?

Round your answer to 1 decimal place.

6. You deposit $100 each month into an account earning 7% interest compounded monthly.a) How much will you have in the account in 25 years? b) How much total money will you put into the account? c) How much total interest will you earn?

7. You deposit $2000 each year into an account earning 7% interest compounded annually. How much will you have in the account in 15 years?

8. Suppose you want to have $400,000 for retirement in 35 years. Your account earns 10% interest.

a) How much would you need to deposit in the account each month?

b) How much interest will you earn?

9. You have $500,000 saved for retirement. Your account earns 8% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 20 years?

10. You want to be able to withdraw $40,000 each year for 20 years. Your account earns 10% interest. 

a) How much do you need in your account at the beginning?

b) How much total money will you pull out of the account?

c) How much of that money is interest?

Answer rating: 100% (QA)

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