9. How much money should a company deposit in an account with a nominal rate of 7% compounded monthly to have $100,000 for a certain piece of machinery in five years?

11. What lump sum do parents need to deposit in an account earning 10% compounded monthly so that it will grow to $80,000 for their son's college fund in 18 years?

5. At the end of 6 years, after being charged interest at 0.8% per year, compounded weekly, Cliff had to pay back $7973.67 on a loan. How much did Cliff borrow? How much interest did he pay?

2. How much must you deposit today into an account with quarterly compounding interest and an APR of 6% in order to have $30,000 in 10 years for a down payment on a house? Assume no additional deposits are made. How much of the money saved is interest?

1. What will be the accumulated value of $15,575 invested at 8.25% interest, compounded semiannually, for 12 years? What is the total amount of interest earned?

3. Sheren makes quarterly payments of $750 into an account that pays 7% per year, compounded quarterly. How much money will be in her account in 5 years? a. $17 252.22 b. $15 861.08 c. $17 776.20 d. $17 776.21

2. What investment would have to be made today into an account which earns interest at a rate of3.3%a compounded semi-annually, so that$3600will be accumulated at the end of seven years?

7) A student wants to save $20,000 in 5 years. What principal must be invested now if the account is paying interest at a rate of 3% compounded monthly? Round to the nearest cents.