Homework #$1$

$1-$ You deposit $$5,000$ in a savings account that pays $7$ percent interest, compounded annually. How much will your account be worth in $8$ years?

$2-$Suppose you will need $$15,000,5$ years from now. How much money you need to deposit today in order to have $$15,000$ in $5$ years if you can earn an annual compounded interest of $8\%.$

$3-$ Suppose you invested $$3,000$ in stocks $15$ years ago. If your account is now worth $$5,500,$ what rate of return did your stocks earn?

$4-$ Suppose you have invested $$2,500$ in a bank account some time ago. If the bank was paying you an annually compounded interest of $6\%$ per year, and now the amount you have in the bank is $$6,700,$ How many years passed since you made the deposit?

$5-$ If you have deposited $$5000$ in a bank account that pays $5\%$ interest. How many end$-$of$-$year equal payments you can withdraw over the next $4$ years?

$6-$ What is the future value of $10$ equal deposits that you will make over the next $10$ years, at the end of year basis of $$1,000,$ if you can earn $7\%$ interest rate?

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