Special Instructions for this question:

Use the factors below to answer this question. A rate of 12%, compounded annually, applies to this question.

(Table 1) Future Value Single for 3 period at 12%: 1.405

(Table 2) Future Value Annuity for 3 period at 12%: 3.374

(Table 3) Present Value Single for 3 period at 12%: 0.712

(Table 4) Present Value Annuity for 3 period at 12%: 2.402

1. What amount must be deposited in the bank today to grow to $750 in three years?

		a. $551.47
		b. $253.05
		c. $534.00
		d. $180.15

2. A deposit of $200 made at the end of each year for three years would grow to how much?

		a. $480.40
		b. $674.80
		c. $142.40
		d. $281.00

3. A deposit of $500 would grow to how much at the end of three years?

		a. $702.50
		b. $356.00
		c. $1,201.00
		d. $1,687.00

4. What amount must be deposited in the bank today to be able to withdraw $400 at the end of each year for the next three years?

		a. $284.80
		b. $562.00
		c. $1,349.60
		d. $960.80