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CHRIS SPEAR INVESTED $15,000 TODAY IN A FUND THAT EARNS 8% COMPOUNDED ANNUALLY. TO WHAT AMOUNT WILL THE INVESTMENT GROW IN 3 YEARS? TO WHAT AMOUNT WOULD THE INVESTMENT GROW IN 3 YEARS IF THE FUND EARNS 8% ANNUAL INTEREST COMPOUNDED SEMIANNUALLY? PV=15,000 I=8% FV=? ON=3 3 15,000(1. 25791) = 18,895. 65 SEMIANNUALLY PV=15,000 I=4%FV 0 N= 66 FVF3, 8% 15,000(1. 26532) = 18,979. 80 TONY BAUTISTA NEEDS $25,000 IN 4 YEARS.

WHAT AMOUNT MUST HER INVESTED TODAY IF HIS INVESTMENT EARNS 12% COMPOUNDED ANNUALLY? WHAT AMOUNT MUST HE INVESTS IF HIS INVESTMENT EARNS 12% ANNUAL INTEREST COMPOUNDED QUARTERLY? PVI= 12% FV=25,000 0 N= 4 PVFNI 25,000 X . 63552 = 15,888 PV= 15,888 I= 3% FV= 25,000 0N=164 25,000 X . 62317 = 15,579 CANDICE WILLIS WILL INVESTS $30,000 TODAY. SHE NEEDS $150,000 IN 21 YEARS. WHAT ANNUAL INTEREST RATE MUST SHE EARN?

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PV=30,000 I=? FV= 150,000 0 N= 21 21 FV=PV(FVF 21,i)PV=FV(PVF 21,i) 150,000= 30,000X30,000= 150,000 30,000 30,000150,000 150,000 X=5X=. 2000 %= 8%= 8 BO NEWMAN WILL INVEST $10,000 TODAY IN FUND THAT ERANS 5% ANNUAL INTEREST. HOW MANY YEARS WILL IT TAKE FOR THE FUND TO GROW TO $17,100. PV=10,000 I= 5%FV= 17,100 0 N? 17,100=10,000X17,100= 10,000 10,00010,00017,100 17,100 X= 1. 70 11 YEARS X= . 584 11 YEARS

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