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How much more could have earned over a five-year period

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Problem 1: What is the future value of $3,088 invested for 10 years at 4.50 percent compounded annually?

a. $4,507.84

b. $1,948.55

c. $4,795.57

d. $4,811.10

e. $4,780.04

Problem 2: What is the present value of $13,150 to be received 4 years from today if the discount rate is 5.75 percent?

a. $9,147.83

b. $10,376.51

c. $11,119.48

d. $10,409.73

e. $10,514.88

Problem 3: You invested $1,420 in an account that pays 3 percent simple interest. How much more could you have earned over a 5-year period if the interest had compounded annually?

a. $22.62

b. $12.51

c. $13.17

d. $13.83

e. $12.63

Reference no: EM132779349

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