If you invest $19,000 at 7% interest, how much will you have in 8 years? Use Appendix A. (Round "FV Factor" to 3 decimal places.)
$11,058
$30,058
$87,414
$32,642
How much must you invest at 10% interest in order to see your investment grow to $30,000 in 12 years? Use Appendix B. (Round "PV Factor" to 3 decimal places.)
$8,936
$9,570
$8,971
none of these
Mr. Blochirt is creating a college investment fund for his daughter. He will put in $7,000 per year for the next 17 years and expects to earn a 12% annual rate of return. How much money will his daughter have when she starts college? Use Appendix C. (Round "FV Factor" to 3 decimal places.)
$330,162
342,915
$331,175
$342,188
Dr. J. wants to buy a Dell computer which will cost $2,900 two years from today. He would like to set aside an equal amount at the end of each year in order to accumulate the amount needed. He can earn 8% annual return. How much should he set aside? Use Appendix C. (Round "FV Factor" to 3 decimal places and your final answer to 2 decimal places.)
$1,444.23
$1,494.23
$1,394.23
$1,369.23