91Ó°ÊÓ

Consider a CD paying a 3.6\% APR compounded monthly. (a) Find the periodic interest rate. (b) Find the future value of the \(\mathrm{CD}\) if you invest \(\$ 3250\) for a term of four years.

Consider a CD paying a \(3.65 \%\) APR compounded daily. (a) Find the periodic interest rate. (b) Find the future value of the \(\mathrm{CD}\) if you invest \(\$ 1580\) for a term of three years.

Consider a CD paying a \(4.38 \%\) APR compounded daily. (a) Find the periodic interest rate. (b) Find the future value of the \(\mathrm{CD}\) if you invest \(\$ 3250\) for a term of four years.

Consider a CD paying a \(3 \%\) APR compounded continuously. Find the future value of the \(\mathrm{CD}\) if you invest \(\$ 1580\) for a term of three years.

Suppose you invest \(\$ P\) on a CD paying \(2.75 \%\) interest compounded continuously for a term of three years. At the end of the term you get \(\$ 868.80\) from the bank. Find the value of the original principal \(P\).

Suppose you invest \(\$ P\) on a CD paying \(1.85 \%\) interest compounded continuously for a term of five years. At the end of the term you get \(\$ 1645.37\) from the bank. Find the value of the original principal \(P\).

For an investment having an APY of \(7.2 \%\), estimate the number of years needed to double the principal.

Find the value of a retirement savings account paying an APR of \(6.6 \%\) after 45 years (contributions made at the end of each year, including the last year) when the annual contribution is (a) \(\$ 1500\) (b) \(\$ 750\) (c) \(\$ 2250\)

Find the value of a retirement savings account paying an APR of \(6.6 \%\) (compounded monthly) after 45 years of monthly contributions (contributions made at the end of each month, including the last month) when the monthly contribution is (a) \(\$ 125\) (b) \(\$ 62.50\) (c) \(\$ 187.50\)

Find the value of a retirement savings account paying an APR of \(5.4 \%\) (compounded monthly) after 40 years of monthly contributions (contributions made at the end of each month, including the last month) when the monthly contribution is (a) \(\$ 100\) (b) \(\$ 50\) (c) \(\$ 150\)