Question: 7. Multiple compounding periods: Find the future value of a five- vear $100,000 investment that pays 8.75 percent and that has the following compounding periods:

7. Multiple compounding periods: Find the future value of a five-

7. Multiple compounding periods: Find the future value of a five- vear $100,000 investment that pays 8.75 percent and that has the following compounding periods: (a) Quarterly. (b) Monthly. (c) Daily. (d) Continuous. 8. Growth rates: Joe Mauer, a catcher for the Minnesota Twins, is expected to hit 15 home runs in 2014. If his home-run-hitting ability is expected to grow by 12 percent every year for the following five years how many home runs is he expected to hit in 2019? 9. Present value: Roy Gross is considering an investment that pays 7.6 percent, compounded annually. How much will he have to invest today so that the investment will be worth $25,000 in six years

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