Question 1

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​
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Accepted Answer

The answer of Compute the present value (principal) and the...

Question 2

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​
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Accepted Answer

The answer of Compute the present value (principal) and the...

Question 3

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​
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Accepted Answer

The answer of Compute the present value (principal) and the...

Question 4

Compute the present value in each of the following problems. Use Tables 16-1A&B or 16-2A&B or a calculator.
a.How much must you deposit today into an account that pays 12% compounded quarterly to have $9,000 in 3 years?
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b.How much must you lend today at 8% compounded semiannually to be repaid a total (principal and interest) of $23,400 in 8 years?

Accepted Answer

The answer of Compute the present value in each of...

Question 5

Amanda Nelson wants to buy a new car 3 years from now. In addition to trading in her current car, she estimates that she will need an additional $8,000. Compute the amount that Amanda must invest now if she can earn 5% compounded quarterly. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Accepted Answer

The answer of Amanda Nelson wants to buy a new...

Question 6

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​
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Accepted Answer

The answer of Compute the present value (principal) and the...

Question 7

Joseph Patrik will deposit enough money today so that his account will contain $30,000 in 15 years. The account will pay interest at 12% compounded semiannually. Compute the interest (in dollars) that Patrik will earn during the 15 years. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Accepted Answer

The answer of Joseph Patrik will deposit enough money today...

Question 8

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.
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Accepted Answer

The answer of Compute the present value (principal) and the...

Question 9

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.
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Accepted Answer

The answer of Compute the present value (principal) and the...

Question 10

Winchell Plastics plans to buy a new delivery truck. The company can borrow $16,000 for 15 months at 15% compounded monthly. If Winchell borrows the money at this rate, how much will it have to pay in interest? (Use Tables 16-1A&B or a calculator.)​

Accepted Answer

The answer of Winchell Plastics plans to buy a new...

Question 11

Beverly Forest is a single parent with twin daughters who are now seniors in high school. Beverly inherited money from her father's estate and decided that it would be reasonable to save $50,000 of the inheritance for wedding expenses in the event that both daughters should decide to get married in the same year. How much money will Beverly have in 4 years if she can invest the $50,000 and get a return of 8% compounded quarterly? (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Accepted Answer

The answer of Beverly Forest is a single parent with...

Question 12

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​
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Accepted Answer

The answer of Compute the present value (principal) and the...

Question 13

Harold Lau will deposit enough money today so that his account will contain $20,000 in 10 years. The account will pay interest at 8% compounded semiannually. Compute the interest (in dollars) that Harold will earn during the 10 years. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Accepted Answer

The answer of Harold Lau will deposit enough money today...

Question 14

Compute the present value in each of the following problems. Use Tables 16-1A&B or 16-2A&B or a calculator.
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a.Compute the amount that you must lend today at 10% compounded semiannually to be repaid a total (principal and interest) of $10,000 in 13 years.​
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b.Compute the amount that you must invest today at 12% compounded annually to have $1,500 in 3 years.

Accepted Answer

The answer of Compute the present value in each of...

Question 15

James Parker wants to buy a new motorcycle 4 years from now. In addition to trading in his current motorcycle, he estimates that he will need an additional $2,000. Compute the amount that James must invest now if he has to earn 12% compounded quarterly. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Accepted Answer

The answer of James Parker wants to buy a new...

Question 16

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​
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Accepted Answer

The answer of Compute the present value (principal) and the...

Question 17

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​
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Accepted Answer

The answer of Compute the present value (principal) and the...

Question 18

Two-and-one-half years from now, Melanie Olson wants to have $8,500 in the bank. She can earn interest of 12% compounded monthly. Compute the amount that Melanie must deposit today. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Accepted Answer

The answer of Two-and-one-half years from now, Melanie Olson wants...

Question 19

Compute the present value in each of the following problems. Use Tables 16-1A&B or 16-2A&B or a calculator.
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a.How much must you invest today at 12% compounded monthly to have $10,000 in 2 years?
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b.Compute the amount that you must deposit today into an account that pays 5% compounded quarterly to have $15,000 in 5 years.

Accepted Answer

The answer of Compute the present value in each of...

Question 20

Newton Kress plans to give his son $12,500 when his son turns 21, which will be 5 years from now. If Newton finds an investment that will pay 8% compounded semiannually, compute the amount that he must invest today to achieve his goal. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Accepted Answer

The answer of Newton Kress plans to give his son...

Quiz 16: Compound Interest

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​ ​

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​ ​

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​ ​

Amanda Nelson wants to buy a new car 3 years from now. In addition to trading in her current car, she estimates that she will need an additional $8,000. Compute the amount that Amanda must invest now if she can earn 5% compounded quarterly. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​ ​

Joseph Patrik will deposit enough money today so that his account will contain $30,000 in 15 years. The account will pay interest at 12% compounded semiannually. Compute the interest (in dollars) that Patrik will earn during the 15 years. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator. ​​

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator. ​

Winchell Plastics plans to buy a new delivery truck. The company can borrow $16,000 for 15 months at 15% compounded monthly. If Winchell borrows the money at this rate, how much will it have to pay in interest? (Use Tables 16-1A&B or a calculator.)​

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​ ​

Harold Lau will deposit enough money today so that his account will contain $20,000 in 10 years. The account will pay interest at 8% compounded semiannually. Compute the interest (in dollars) that Harold will earn during the 10 years. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​ ​

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.​ ​

Two-and-one-half years from now, Melanie Olson wants to have $8,500 in the bank. She can earn interest of 12% compounded monthly. Compute the amount that Melanie must deposit today. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Newton Kress plans to give his son $12,500 when his son turns 21, which will be 5 years from now. If Newton finds an investment that will pay 8% compounded semiannually, compute the amount that he must invest today to achieve his goal. (Use Tables 16-1A&B or 16-2A&B or a calculator.)​

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.

Amanda Nelson wants to buy a new car 3 years from now. In addition to trading in her current car, she estimates that she will need an additional $8,000. Compute the amount that Amanda must invest now if she can earn 5% compounded quarterly. (Use Tables 16-1A&B or 16-2A&B or a calculator.)

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.

Joseph Patrik will deposit enough money today so that his account will contain $30,000 in 15 years. The account will pay interest at 12% compounded semiannually. Compute the interest (in dollars) that Patrik will earn during the 15 years. (Use Tables 16-1A&B or 16-2A&B or a calculator.)

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.

Winchell Plastics plans to buy a new delivery truck. The company can borrow $16,000 for 15 months at 15% compounded monthly. If Winchell borrows the money at this rate, how much will it have to pay in interest? (Use Tables 16-1A&B or a calculator.)

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.

Harold Lau will deposit enough money today so that his account will contain $20,000 in 10 years. The account will pay interest at 8% compounded semiannually. Compute the interest (in dollars) that Harold will earn during the 10 years. (Use Tables 16-1A&B or 16-2A&B or a calculator.)

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.

Compute the present value (principal) and the compound interest earned for each of the following investments. Use Tables 16-1A&B or 16-2A&B or a calculator.

Two-and-one-half years from now, Melanie Olson wants to have $8,500 in the bank. She can earn interest of 12% compounded monthly. Compute the amount that Melanie must deposit today. (Use Tables 16-1A&B or 16-2A&B or a calculator.)

Newton Kress plans to give his son $12,500 when his son turns 21, which will be 5 years from now. If Newton finds an investment that will pay 8% compounded semiannually, compute the amount that he must invest today to achieve his goal. (Use Tables 16-1A&B or 16-2A&B or a calculator.)