# SOLUTION: Question 1 Find the amount that results from the investment. \$480 invested at 8% compounded quarterly after a period of 3 years Question 1 a. \$604.66 b. \$608.76

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 Question 422268: Question 1 Find the amount that results from the investment. \$480 invested at 8% compounded quarterly after a period of 3 years Question 1 a. \$604.66 b. \$608.76 c. \$596.82 d. \$128.76 Question 2 Find the amount that results from the investment. \$1,000 invested at 9% compounded semiannually after a period of 9 years a. \$2113.38 b. \$2171.89 c. \$2208.48 d. \$1208.48 Question 3 Solve the problem. If Emery has \$2000 to invest at 9% per year compounded monthly, how long will it be before he has \$3200? If the compounding is continuous, how long will it be? (Round your answers to three decimal places.) a. 0.454 yr, 0.435 yr b. 0.07 yr, 0.522 yr c. 69.442 yr, 5.444 yr d. 5.242 yr, 5.222 yr Question 4 Solve the problem. Suppose that is invested at an interest rate of per year, compounded continuously. What is the balance after 3 years? Question 4 answers a. \$6014.68 b. \$5280.00 c. \$5914.68 d. \$5840.00 Question 5 Find the effective rate of interest. 8.75% compounded monthly a. 8.955% b. 9.11% c. 9.655% d. 8.873% Question 6 Solve the problem. Larry has \$3000 to invest and needs \$3400 in 13 years. What annual rate of return will he need to get in order to accomplish his goal? (Round your answer to two decimals.) a. 3.44% b. 0.96% c. 1.44% d. 2.44% Question 7 Find the effective rate of interest. a. 5.75% b. 4.75% c. 4.84% d. 4.42% Question 8 Find the present value. Round to the nearest cent. To get \$25,000 after 3 years at 4% compounded semiannually a. \$22,224.91 b. \$22,643.27 c. \$2800.72 d. \$22,199.28 Question 9 Find the present value. Round to the nearest cent. To get \$6500 after 9 years at 4% compounded quarterly a. \$4588.44 b. \$4566.81 c. \$1956.99 d. \$4543.01 Question 10 Find the present value. Round to the nearest cent. To get \$6500 after 4 years at 10% compounded quarterly a. \$4488.03 b. \$2121.44 c. \$4378.56 d. \$4439.59 Question 11 text Solve the problem. Round your answer to three decimals. What annual rate of interest is required to double an investment in 5 years? a. 14.87% b. 24.573% c. 13.863% d. 7.435% Question 12 text Solve the problem. Round your answer to three decimals. How long will it take for an investment to double in value if it earns 4.5% compounded continuously? a. 7.702 yr b. 16.653 yr c. 15.403 yr d. 24.414 yr Question 13 text Find the amount that results from the investment. \$1,000 invested at 11% compounded semiannually after a period of 6 years a. \$1901.21 b. \$1802.09 c. \$1870.41 d. \$901.21 Question 14 text Find the effective rate of interest. 6% compounded monthly a. 6.25% b. 6.39% c. 6.43% d. 6.29% Question 15 text Find the effective rate of interest. 12.3% compounded continuously a. 12.751% b. 12.389% c. 12.674% d. 13.088%Found 2 solutions by shree840, richard1234:Answer by shree840(260)   (Show Source): You can put this solution on YOUR website!I believe the 8 percent is annual compounded quarterly quarterly int rate =2 time period is 4*3=12 (480(1+.02)^12 =608 ans is b If you want me to solve all your problems pay \$1 per question Answer by richard1234(5390)   (Show Source): You can put this solution on YOUR website!Use the formulas for simple and compound interest. Or you could pay the other tutor \$15 and have him do your homework for you.