6.  What will $150,000 grow to be in 15 years if it is invested in an account with a quoted annual interest rate of 10% with monthly compounding of interest?

7.  How many years will it take for $200,000 to grow to be $600,000 if it is invested in an account with a quoted annual interest rate of 8% with monthly compounding of interest?

8.  At what quoted annual interest rate must $135,000 be invested so that it will grow to be $460,000 in 15 years if interested is compounded weekly?

9.  If you wish to accumulate $500,000 in 20 years, how much must you deposit today in an account that pays a quarterly interest rate of 2%?

10. How many months will it take for $200,000 to grow to be $550,000 if it is invested in an account with a quoted annual interest rate of 8% with monthly compounding of interest?

Answer rating: 100% (QA)

Future Value Calculations with Compound Interest 6 Future Value after 15 years We can use the Future ... View the full answer