What is the future value of $1,101 invested for 9 years at 7 percent compounded annually?

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Question:

What is the future value of $1,101 invested for 9 years at 7 percent compounded annually?

2. What is the present value of $18,664 to be received 7 years from today if the discount rate is 7 percent?

3. One year ago, you invested $2,037. Today, it is worth $3,180. What rate of return did you earn?

Enter answer in percents, accurate to two decimal places.

4. Some time ago, Bob bought some land costing $23 thousand. Today, that same land is valued at $65 thousand. How long, in years, has Bob owned this land if the price of land has been increasing at 6 percent per year?

5. Assume the total cost of a college education will be $390,710 when your child enters college in 21 years. You presently have $58,825 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child's college education?

Enter interest rate in percents, accurate to two decimal places.

6. You have just received notification that you have won the $2.30 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming you're around to collect), 65 years from now. What is the present value of your windfall if the appropriate discount rate is 9 percent?

7. Assume a bronze sculpture sold in the year 2,008 at auction for a price of $10,681,400. Unfortunately for the previous owner, he had purchased it in year 1,997 at a price of $14,635,667. What was his annual rate of return on this sculpture?

Enter answer in percents, to two decimal places.

8. Twenty years ago, you deposited $6,335 into an account. Fifteen years ago, you added an additional $8,861 to your account. You earned 5.18 percent, compounded annually, for the first 5 years and 8.29 percent, compounded annually, for the last 15 years. What is the value of your account today?