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1. If $10,000 is invested at 12% compounded annually, what is the amount after 10 years?

   1.   ?    $31058.48
   2.   ?    $22000
   3.   ?    $3219.73
   4.   ?    None of the answers given; click to see the solution.

2. If $3200 is invested at 9.6% compounded quarterly, what is the amount after 3 years?

   1.   ?    $4253.53
   2.   ?    $9613.39
   3.   ?    $3435.97
   4.   ?    $4212.90
   5.   ?    None of the answers given; click to see the solution.

3. If an investment pays 18% compounded monthly, how much should you deposit now in order to have $8000 4 years from now?

   1.   ?    $3914.89
   2.   ?    $16347.83
   3.   ?    $4126.31
   4.   ?    None of the answers given; click to see the solution.

4. How much interest will be earned on an investment of $7200 at 9% compounded semi-annually for 5 years?

   1.   ?    $3981.38
   2.   ?    $11181.38
   3.   ?    $3878.09
   4.   ?    None of the answers given; click to see the solution.

5. Suppose you have just been given a bonus of $5000 and you have the opportunity to invest it at 8% compounded quarterly. How many years will it take at this rate for the investment to grow to $8000?

   1.   ?    About 5.93 years
   2.   ?    About 23.7 years
   3.   ?    About 7.5 years
   4.   ?    None of the answers given; click to see the solution.

6. Find the effective rate of 10.2% compounded monthly.

   1.   ?    10.69%
   2.   ?    .85%
   3.   ?    10.2%
   4.   ?    None of the answers given; click to see the solution.