Exam 9: Compound Interestfuture Value and Present Value

Determine the sum of money that will grow to $18 530 in four years,eleven months at 5.2% compounded quarterly.

Find the maturity value of a promissory note for $1400.00 dated March 31,2001,and due on August 31,2006,if interest is 7.64% compounded quarterly.

Determine n if an amount is invested for 3.5 years at 2.25% compounded quarterly.

A $4300.00 promissory note issued without interest for nine years on September 30,2001,is discounted on July 31,2006,at 8.32% compounded quarterly.Find the compound discount.

Four years and five months after its date of issue,a 7-year promissory note for $8900.00 bearing interest at 5.04% compounded monthly is discounted at 6.5% compounded semi-annually.Find the proceeds of the note using the exact method.

Calculate the future value of $4200 if it is invested at an interest rate of 8.6% compounded quarterly for 3 years and 10 months.

A ten-year note for $2220.00 bearing interest at 6.6% compounded monthly is discounted at 8.92% compounded quarterly four years and four months before maturity.Find the proceeds of the note.

You will need three amounts of $14 200 in each year for four years in order to go to school.You are planning on going to school starting in 5 years and ending in 8 years (years 5,6,7,8).You are able to earn 9.64% compounded quarterly.How much money do you have to have today in order to be able to go to school?

Find the compound amount of $5700.00 at 11.2% p.a.for seven years compounded monthly.

Six years after Mr.Robertson deposited $7110.00 in a savings account that earned interest at 6.8% p.a.,compounded semi-annually,the interest was changed to 7.2% p.a.,compounded quarterly.How much was in the account ten years after the deposit was made?

Debts of $850 due in six months,$700 due in sixteen months,and $1100 due in three years are to be settled by a single payment one year from now.What is the size of that single payment if interest is 7.5% compounded monthly?

Orange Credit Union expects an average annual growth rate of 16% for the next four years.If the assets of the credit union currently amount to $2.7 million,what will the forecasted assets be in four years?

A debt can be repaid by payments of $4125.00 today,$3770.00 in two years and $5600.00 in five years.What single payment would settle the debt three years from now if money is worth 9.88% p.a.compounded quarterly?

A debt can be repaid by payments of $1000.00 today,and $3000.00 in two years.What single payment would settle the debt three years from now if money is worth 16% p.a.compounded semi-annually?

Find the sum of money that accumulates to $11 415.00 at 7.6% compounded quarterly in six years,seven months.

Determine the maturity value of $5400 due in 91 months compounding annually at 8.75%.

Darcy's parents made a trust deposit of $3500.00 on October 31,2002,to be withdrawn on Darcy's eighteenth birthday on July 31,2016.To what will the deposit amount on that date at 13.48% compounded quarterly?

A five-year promissory note with a face value of $3500,bearing interest at 11% compounded semiannually,was sold 21 months after its issue date to yield the buyer 10% compounded quarterly.What amount was paid for the note?

You invest $10 000 in a savings account that pays interest of 8% compounded monthly.What is the value of your account after 14 months?

A debt of $4000 due today is to be settled by two equal payments due three months from now,and 9 months from now respectively.What is the size of the equal payments at 8% compounded quarterly?