1. You plan to invest $3,500 for seven years at 5 percent simple interest. How much...

1. You plan to invest $3,500 for seven years at 5 percent simple interest. How much will you have in your investment account at the end of the seven-year period? A. $4,725.00 B. $4,511.62 C. $3,680.00 D. $8,725.00 E. $4,234.78

2. Stanley has $1,250 today and wants to accumulate $3,000. How many years will it take him to achieve this goal if the applicable interest rate is 5.25 percent, compounded annually? A. 12.54 B. 17.11 C. 1.58 D. 25.98 E. 2.78

3. What is the future value of $1,845 a year for seven years at an interest rate of 11 percent? A. $3,830.52 B. $7,705.69 C. $8,443.81 D. $9,107.38 E. $2,881.91

Expert Solution

jeff jeffy answered 1 year ago

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