Question $12(8$ points$)$

You invest $$4,355$ in an account today. You make no additional deposits into the

account. One year from today there is $$5,297$ in the account. What is the nominal

interest rate that you earned on your money? $($Record your answer as a percent

rounded to $1$ decimal place; for example, record $\mathrm{.}527945=52\mathrm{.}8\%$ as $52\mathrm{.}8).$

Your Answer:

Answer

Question $13(8$ points$)$

Assume Bill Jones invested $$3,859\mathrm{.}06$ into an account exactly one year ago. The

account has an interest rate of $3\mathrm{.}1\%$ p$.$a$.$ How much does Bill have in his account

today $($that is$,$ exactly one year after the initial deposit$)?($Round your answer to the

nearest cent and record your answer without a dollar sign and without commas. For

example, record $$1,356\mathrm{.}8382$ as $1356\mathrm{.}84).$

Your Answer:

Answer

Question $14(8$ points$)$

Assume Sheryl Jenkins wants to accumulate $$13,450\mathrm{.}83$ in two years. She currently

has $$10,627\mathrm{.}46$ to invest. What interest rate must she earn on her investment $($that

is$,$ if she deposits $$10,627\mathrm{.}46$ today$)$ to have $$13,450\mathrm{.}83$ exactly two years from

today?$($Record your answer as a percent rounded to $1$ decimal place; for example,

record $\mathrm{.}527945=52\mathrm{.}8\%$ as $52\mathrm{.}8).$