7- A college saving fund is to be established by a single payment so that at the end of 15 years, there will be $50,000 in the fund. If the fund earns interest at the rate of 8% compounded annually, how much should be deposited initially into the fund?

$

Answer

($xxxxx.xx)

8- You realized you had 401(k) retiment account in F Corp, which you left 12 years ago. The account had $35,000 12 years ago. Assume the rate of return of 8% compounded annually, what amount do you expect today in that forgotten account?

$

Answer

($xxxxx.xx)

9- You have $50,000 you want to invest for the next 45 years. You are offered an investment plan that will pay you 6 percent per year for the next 20 years and 10 percent per year for the last 25 years. How much will you have at the end of the 45 years?

$

Answer

(Round to the nearest $.)

10- You want to have $40,000 for a down payment on a house 4 years from now. If you can earn 3.95 percent, compounded annually on your savings, how much do you need to deposit today to reach your goal?