HW Score: 96%, 24 of 25 pts X) 11.3.19 E Question Help Marcus receives an inhoritance of $13,000 He decides to invest this money in a 12 year certificate of deposit (CD) that pays 2 5% interest compounded monthly How much money will Marcus receive when he redeems the CD at the end of the 12 years? Marcus will receive s Round to the nearest cent)
3.Using Table 3---Find the amount of money that needs to be invested in order to have $1,500 in 3 years if you would receive 2.5% interest compounded annually.
$1,376.45
$1,403.56
$1,259.35
$1,392.90
4.Using Table 1---Find the Future Value of a $7,000 investment at 2% interest compounded semi-annually for 6 years.
$7,877.68
$9,887.81
$7,887.81
$8,877.68
5.Using Table 2---How much Compound Interest is earned on a deposit of $1,500 at .5% interest compounded daily for 30 days.
$0.62
$3.69
$0.61
$0.90
6
Using Table 3---Find the amount of money that needs to be invested in order to have $4,000 in 2 years if you would receive 2% compounded quarterly.
$3,589.78
$3,712.34
$3,843.56
$3,413.96
7
Using Table 1---Find the Future Value of a $1,000 loan at 12% interest compounded monthly for 2 years.
$269.73
$1,324.56
$1,269.73
$324.56
8
Using Table 2---Find the Compound Interest for John McCormick. He can invest $8,000 at .5% interest for 15 days compounded daily.
$1.65
$2.75
$2.64
$1.64
9
Using Table 3---Find the amount of money that needs to be invested in order to have $1,800 in 1 year if you would receive 6% interest compounded monthly.
$1,695.44
$1,398.70
$1,595.45
$1,8.34.29
10
Using Table 1---Find the Future Value of $18,500 at 6% interest compounded quarterly for 4 years.
$23,476.32
$21,998.97
$22,668.33
$21,675.88
11
Using Table 2---Find the Compound Interest on $8,000 at 1.25% interest for 180 days if it is compounded daily.
$58.46
$49.46
$49.47
$48.49
12
Using Table 3---Find the amount of money that needs to be invested in order to have $4,000 in 4 years if you would receive 6% interest compounded quarterly.
$2,834.67
$3,315.21
$2,476.32
$3,152.12
13
Using Table 1---Find the Future Value of a $10,000 investment that is invested for 5 years at 4% interest compounded semi-annually.
$12,665.89
$12,189.90
$12,912.54
$10,189.90
14
Using Table 2---Find the Compound Interest on $2,000 at .75% interest compounded daily for 21 days.
$0.86
$1.06
$1.86
$0.76
15
Using Table 3---Find the amount of money that needs to be invested in order to have $2,000 in 5 years if you would receive 3% interest compounded semi-annually.
$1,9121.25
$1,723.34
$1,599.78
$1,898.51
16
Using Table 1---Find the Future Value of a $3,000 investment at 3% interest compounded semi-annually for 5 years.
$2,968.12
$3,481.62
$2,986.12
$3,418.62
17
Using Table 2---Find the Compound Interest on $5,000 at 2.5% interest compounded daily for 120 days.
$45.25
$41.26
$40.26
$41.25
18
Using Table 3---Find the amount of money that needs to be invested in order to have $700 in 6 years if you would receive 6% interest compounded quarterly.
$489.68
$409.68
$389.65
$498.59
19
Using Table 3---Dereck Anderson plans to buy a house in four years. He will make an $8,000 down payment on the property. How much should he invest today at 6% interest compounded quarterly to have the required amount in four years?
$8,000.00
$6,304.24
$7,354.78
$6,504.24
20
Using Table 1---If you were offered $600 today or $680 in one year; whichwould you accept if the $600 can be invested at 6% interest compounded semi-annually?
