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1)(Future value) To what amount will the following investments accumulate?         \$5,000 invested for 10 years at 10 percent compounded annually \$8,000 invested for 7 years at 8 percent compounded annually \$775 invested for 12 years at 12 percent compounded annually \$21,000 invested for 5 years at 5 percent compounded annually 2

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1)(Future value) To what amount will the following investments accumulate?

• \$5,000 invested for 10 years at 10 percent compounded annually
• \$8,000 invested for 7 years at 8 percent compounded annually
• \$775 invested for 12 years at 12 percent compounded annually
• \$21,000 invested for 5 years at 5 percent compounded annually

2.  (Future value) You are hoping to buy a house in the future and recently received an inheritance of \$20,000. You intend to use your inheritance as a down payment on your house.

• If you put your inheritance in an account that earns a 7 percent interest rate compounded annually, how many years will it be before your inheritance grows to \$30,000? 22 years
• If you let your money grow for 10.25 years at 7 percent, how much will you have?
• How long will it take your money to grow to \$30,000 if you move it into an account that pays 3 percent compounded annually? How long will it take your money to grow to \$30,000 if you move it into an account that pays 11 percent?

3.  (Present value) Anita Solomon would like to make a single investment and have \$2 million at the time of her retirement in 35 years. She has found a mutual fund that will earn 4 percent annually. How much will Sarah have to invest today?

4.  (Solving for n) How many years will the following take?

• \$500 to grow to \$1,039.50 if it’s invested at 5 percent compounded annually
• \$35 to grow to \$53.87 if it’s invested at 9 percent compounded annually
• \$100 to grow to \$298.60 if it’s invested at 20 percent compounded annually
• \$53 to grow to \$78.76 if it’s invested at 2 percent compounded annually

2.83 USD

Option 2

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