1. What is the future value of $1,345 in 16 years assuming an interest rate of 8.4% compounded semiannually?
2. An investment will pay you $65,000 in nine years. If the appropriate discount rate 5.5% compounded daily, whar is the present value?
3. You want to buy a new sports coupe for $73,400 and the finance office at the dealership quoted you a loan with an APR of 5.1 percent for 60 months to buy the car. What will your monthly payments be? What is the effective annual rate on this loan?