1)If you place $50 in a savings account weekly with an interest rate of 3.13% p.a, what will the investment be worth at the end of five years? $________

2)Shorty Jones wants to buy a one-way bus ticket to Mule-Snort, Pennsylvania. The ticket costs $145, but Mr. Jones has only $80. If Shorty puts the money in an account that pays 4.13% interest compounded monthly, how many months must Shorty wait until he has $145?

3)Dawn Swift discovered that 20 years ago, the average tuition for one year at an Ivy League school was $15,000. Today, the average cost is $60,000. What is the growth rate in tuition cost over this 20-year period? ______%

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1The investment will be worth 373250 after five years 2Shorty will have to wait 14 months in order t... View the full answer