The interest of a compound interest investment or loan can be computed with the formula I=AP (where A is given below) . The end amount of a compound interest investment or loan can be computed with the formula A=P(1+rn)nt. Use these formulas to evaluate the amounts indicated below.

Let P=$3,500, r=14.8% , n=4, and t=5 years. Determine the interest, I, at the end of 5years. Interest = $ dollars

Let P=$2,400, r=6.7% , n=2, and t=3 years. Determine the total end amount, A, at the end of 3 years. End Amount =

12) Find the final amount of money in an account if $8,700 is deposited at 4% interest compounded semi-annually and the money is left for 7 years. The final amount is $

round your answer to the nearest cent

11) (a) 8% simple interest: $ 69,600 (b) 8% compounded annually: $ (c) 8% compounded quarterly: $ (d) 8% compounded monthly: 288136.16

12) Find the final amount of money in an account if $8,700 is deposited at 4% interest compounded semi-annually and the money is left for 7 years. The final amount is $ . Round to the nearest cent.

13) If 1200 dollars is invested in an account for 10 years. Find the value of the investment at the end of 10 years if the interest is: (a) 5.4% compounded annually: $ (b) 5.4% compounded semiannually: $ (c) 5.4% compounded quarterly: $ (d) 5.4% compounded monthly: $ (e) 5.4% compounded daily (ignore leap years): $

15) How much would you need to deposit in an account now in order to have $2000 in the account in 15 years? Assume the account earns 6% interest compounded quarterly. Round your answer to the nearest cent.

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6)How much would you need to deposit in an account now in order to have $4000 in the account in 15 years? Assume the account earns 5% interest compounded annually. Round your answer to the nearest cent.

17)You deposit $3000 in an account earning 4% interest compounded quarterly. How much will you have in the account in 15 years? Round your answer to the nearest cent.

18)Suppose you invest $4500 in an account with an annual interest rate 12% compounded monthly (1% each month). Use this information to complete the table below. Round to the nearest cent as needed.

Month	Starting Balance	1% Interest on Starting Balance	Ending Balance
1	$4500	$45	$4545
2	$4545	$	$
3	$	$	$4636.35
4	$4636.35	$	$
5	$	$46.83	$

19)

Use the TVM Calculator to solve the following compound interest problem. Round your result to two decimal places as needed.
You invest $12,000 in an account. The interest is compounded monthly at an annual rate of 11.4%. The ending account balance will be $103,615.08. How many months was the investment accruing interest?
Enter the values you need to put in the TVM calculator. Put the letter x for the unknown value. Remember that money paid to the bank is negative and money received from the bank is positive.
PV= Present Value	N= Number of Compounding Periods
PMT= Payment	I%= Annual Interest Rate as a Percent
FV= Future Value	P/Y and C/Y= Payments per Year and/or Compoundings per Year
Use the link to the TVM Calculator below to solve the problem. The investment was accruing interest for months.

20)

Use the TVM Calculator to solve the following compound interest problem. Round your result to two decimal places as needed.

Chris invests $14,000 in an account. The interest is compounded monthly at an annual rate of 9.7%. The ending account balance will be $65,681.56. How many years was the investment accruing interest? The investment was accruing interest for years.

21) The Total Return on an investment is the relative change in the investment value over a given time period. Total Return=Ending ValueInitial ValueInitial Value Joy pays $8,500 for shares in a new company. She sells the shares 10 years later for $20,500. What was her total return on this investment? Round your answer to the nearest tenth of a percent. The Total Return on Joy's investment is %

23) A bank features a savings account that has an annual percentage rate of 3.5 % with interest compounded monthly. Hope deposits $10,500 into the account. How much money will Hope have in the account in 1 year? Answer = $ . Round answer to the nearest penny. What is the annual percentage yield (APY) for the savings account? APY= %. Round to the nearest hundredth of a percent.

24)A bank features a savings account that has an annual percentage rate of 2.5 % with interest compounded semiannually. Stacey deposits $10,000 into the account. How much money will Stacey have in the account in 1 year? Answer = $ . Round answer to the nearest penny. What is the annual percentage yield (APY) for the savings account? APY= %. Round to the nearest hundredth of a percent.

25) A bank features a savings account that has an annual percentage rate of 3.5 % with interest compounded quarterly. Mondaire deposits $4,000 into the account. How much money will Mondaire have in the account in 1 year? Answer = $ . Round answer to the nearest penny. What is the annual percentage yield (APY) for the savings account? APY= %. Round to the nearest hundredth of a percent.