# At what rate must \$400 be compounded annually for it to grow to \$716.40 in 10 years?A) 6%B) 5%C) 7%D) 8% 2

1) At what rate must \$400 be compounded annually for it to grow to \$716.40 in 10 years?A) 6%B) 5%C) 7%D) 8%  2) You just purchased a parcel of land for \$10,000. If you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years?A) \$25,000B) \$31,060C) \$38,720D) \$34,310  3) If you place \$50 in a savings account with an interest rate of 7% compounded weekly, what will the investment be worth at the end of five years (round to the nearest dollar)?A) \$72B) \$70C) \$71D) \$57  4) Shorty Jones wants to buy a one-way bus ticket to Mule-Snort, Pennsylvania. The ticket costs \$142, but Mr. Jones has only \$80. If Shorty puts the money in an account that pays 9% interest compounded monthly, how many months must Shorty wait until he has \$142 (round to the nearest month)?A) 73 monthsB) 75 monthsC) 77 monthsD) 79 months  5) If you want to have \$1,700 in seven years, how much money must you put in a savings account today? Assume that the savings account pays 6% and it is compounded quarterly (round to the nearest \$10).A) \$1,120B) \$1,130C) \$1,110D) \$1,140 6) If you want to have \$1,200 in 27 months, how much money must you put in a savings account today? Assume that the savings account pays 14% and it is compounded monthly (round to the nearest \$10).A) \$910B) \$890C) \$880D) \$860  7) You bought a painting 10 years ago as an investment. You originally paid \$85,000 for it. If you sold it for \$484,050, what was your annual return on investment?A) 47%B) 4.7%C) 19%D) 12.8%  8) You deposit \$5,000 today in an account drawing 12% compounded quarterly. How much will you have in the account at the end of 2 1/2 years?A) \$7,401B) \$5,523C) \$7,128D) \$6,720  9) How many years will it take for an initial investment of \$200 to grow to \$544 if it is invested today at 8% compounded annually?A) 8 yearsB) 10 yearsC) 11 yearsD) 13 years  10) If you purchased a share of Mico.com stock on March 1, 1993 for \$45 and you sold the stock at \$168 on February 28, 1998, what was your annual rate of return on the stock?A) 83%B) 75%C) 20%D) 30%E) 50%

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