1.)You are scheduled to receive $15500 in three years. When you receive it you

1.)You are scheduled to receive $15500 in three years. When you receive it you will invest it for seven more years at 7.2 percent per year.
How much will you have in ten years? (Do not round intermediate calculations and round your final answer to 2
decimal places. (e.g. 32.16)

Future Value:

2.)Rust Bucket Motor Credit Corporation (RBMCC) a subsidiary of Rust Bucket Motor offered some securities for sale to the
public on March 28 2008. Under the terms of the deal RBMCC promised to repay the owner of one of these securities $100000 on
March 28 2039 but investors would receive nothing until then. Investors paid RBMCC $23099 for each of these securities; so
they gave up $23099 on March 28 2008 for the promise of a $100000 payment 31 years later.

Based on the $23099 price what rate was RBMCC paying to borrow money? (Do not round
intermediate calculations and round your final answer to 2 decimal places. (e.g. 32.16))

Rate of Return% =

Suppose that on March 28 2018 this securityAf?cA????1A????1s price is $41380. If an investor had purchased it for $23099 at the
offering and sold it on this day what annual rate of return would she have earned? (Do not
round intermediate calculations and round your final answer to 2 decimal places. (e.g. 32.16))

Annual rate of return % =
If an investor had purchased the security at market on March 28 2018 and held it until it matured what annual rate of return
would she have earned? (Do not round intermediate calculations and round your final answer to 2
decimal places. (e.g. 32.16))

Annual rate of return %=

3.)At 6.90 percent interest how long does it take to double your money? (Round your answer to 2
decimal places. (e.g. 32.16))

Length of time _____ years

At 6.90 percent interest how long does it take to quadruple it? (Round your answer to 2 decimal
places. (e.g. 32.16))

Length of time ______ years 4.)
First City Bank pays 8 percent simple interest on its savings account balances whereas Second City Bank pays 8 percent
interest compounded annually.

If you made a $65000 deposit in each bank how much more money would you earn from your Second City Bank account at the end of
8 years? (Do not round intermediate calculations and round your final answer to 2 decimal
places. (e.g. 32.16))

Difference in accounts $ ______