Time Value of Money and Correct Answer

How much must you invest at 10% interest in order to see your investment grow to $5,000 in 5 years?
Select one:
A. $3,070
B. $3,415
C. $3,105
D. none of these
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The correct answer is: $3,105
Question 2
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Sydney saved $50,000 during her first year of work after college and plans to invest it for her retirement in 40 years. How much will she have available for retirement if she can make 8% on her investment?
Select one:
A. $596,250
B. $12,953,000
C. $2,345,100
D. $1,086,226
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The correct answer is: $1,086,226
Question 3
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The future value of a $1000 investment today at 8 percent annual interest compounded semiannually for 5 years is
Select one:
A. $1,469
B. $1,480
C. $1,520
D. $1,555
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The correct answer is: $1,480
Question 4
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Mr. Blochirt is creating a college investment fund for his daughter. He will put in $850 per year for the next 15 years and expects to earn an 8% annual rate of return. How much money will his daughter have when she starts college?
Select one:
A. $11,250
B. $12,263
C. $24,003
D. $23,079
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The correct answer is: $23,079
Question 5
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If Gerry makes a deposit of $1,500 at the end of each quarter for 5 years, how much will he have at the end of the 5 years assuming a 12% annual return and quarterly compounding?
Select one:
A. $40,305
B. $30,000
C. $108,078
D. $161,220
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The correct answer is: $40,305
Question 6
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At an effective annual interest rate of 20 percent, how many years will it take a given amount to triple in value?
Select one:
A. 5 years
B. 6 years
C. 8 years
D. 10 years
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The correct answer is: 6 years
Question 7
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