Your friend withdrew $630,315 from an account into which she had invested $350,000. If the account paid interest at 4% per year, she kept her money in the account for how many years?                                                                                 (a) 1.8 years         (b) 6.5 years         (c) 12.5 years          (d) 15 years

Use the table to determine the discounted payback period using 7% per yearPeriod (n)    Cash flow (An)    Cost of funds (7%)   Ending balance   0                       -85,000                              0                               - 85,000   1                        15,000   2                        25,000   3                        35,000   4                        45,000   5                        45,000   6                        35,000

12.9 A three-year maintenance contract for a local computer network costs $4000. The network is expected to be needed for fifteen years and the maintenance contract will be purchased for the same price at the beginning of every three year period. If the interest rate is 6%, the present equivalent cost of the maintenance contract is nearest: (A) $12,950 (B) $14,500 (C) $15,400 (D) $16,000

What is the equivalent present amount to an accumulation of $25,000 10 years from now at 5% interest? (a)$15,000 (b)$15, 348 (c)$15, 982 (d)$16, 571