The correct answer is bolded, please show steps for how to solve each question.

7, How many months will it take for an investment to increase from $100 to $500 if the interest rate is 9% APR compounded monthly? A. 174 B. 240 C. 216 D. 193 E. 186 12. If you make 20 annual deposits of $1000 starting today, how much will you have in 20 years if the rate of return is 8% APR? A. $45,792 B. $47,284 C. $49,42:3 D. $50,481 E. $51,402 14, Bank One will pay you 5% simple interest annually and Merrill Lynch will 6% APR compounded monthly. If you invest S1000 today, how much longer will it take with Bank One to reach a goal of $25001? A. 13.02 years B. 14.69 years C. 15.82 years D. 16.14 years E. 17.64 years 15. You'd like to have $20,000 in 10 years from a bank that offers to pay you a 5% APR compounded continuously. How much do you need to deposit today? A. S12,012 B. S12.131 C. $12,278 D. S12,420 E. $12,568 17. Many IRA funds argue that investors should invest at the beginning of the year rather than at the end. What is the difference to an investor's retirement account if she invests S2,200 per year at 10 percent over a 30-year period? A. $43,785 B. S32,899 C. S34,544 D. $48,976 E. $36,189