Business mathematics

CHAPTER 11 . COMPOUND INTEREST AND PRESENT VALUE 21. Valerie Walton invested $8,800 at the Northern Trust Credit Union at 1270 interest compounded quarterly. . What is the annual percentage yield of this investment? b. What will Valerie's investment be worth after 6 years? 22. Bob and Joy Salkind want to save $50,000 in 55 years for home improvement projects. If the Bank of Aventura is paying 8% interest compounded quarterly, how much must they deposit now to have the money for the project? 23. While rummaging through the attic, you discover a savings account left to you by a relative. When you were 5 years old, he invested $20,000 in your name at 6% interest compounded semiannually. If you are now 20 years old, how much is the account worth? EXCEL2 24. Applegate Industries is planning to expand its production facility in a few years. New plant construction costs are estimated to be $4.50 per square foot. The company invests $850,000 today at 8% interest compounded quarterly. a. How many square feet of new facility could be built after 32 years? Round to the nearest whole square foot. b. If the company waits 5 years and construction costs increase to $5.25 per square foot, how many square feet could be built? Round to the nearest whole square foot. What do you recommend