Question: At 8% compounded annually, how long will it take $750 to double?1PT At what rate must $400 be compounded annually for it to grow to

  1. At 8% compounded annually, how long will it take $750 to double?1PT

  1. At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years? 1PT

  1. A friend plans to buy a big-screen TV/entertainment system and can afford to set aside $1,320 toward the purchase today. If your friend can earn 5.0%, compounded yearly, how much can your friend spend in four years on the purchase?1PT

  1. You just purchased a parcel of land for $10,000. If you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years?1PT

  1. If you place $50 in a savings account with an interest rate of 7% compounded annually, what will the investment be worth at the end of five years?1PT

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