Solved: How much do you need to invest now at an 8 interest rate, Microeconomics

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How much do you need to invest now at an 8 interest rate

1. How much will you have after 6 years if you invest $15,000 at 6.5 % per year compounded annually? Quarterly?

2. How much will you have at the end of 10 years if you invest $20,000 at 3.5 % per year compounded monthly?

3. How much do you need to invest now at an 8 % interest rate compounded semi- annually in order to have $10,000 in 5 years?

4. Find the present value of $12,000 due 4 years from now if the rate of interest is

6.0 % per year and is compounded quarterly.

5. How long does it take for an amount of money invested at 4.5 % interest com- pounded monthly to triple?

6. What rate of interest compounded quarterly doubles an investment over 10 years?

7. What rate of interest compounded continuously doubles an investment over 10 years?

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