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How much will she have in her account

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Q1. Suzette is going to receive $10,000 today as the result of an insurance settlement. In addition, she will receive $15,000 one year from today and $25,000 two years from today. She plans on saving all of this money and investing it for her retirement. If Suzette can earn an average of 11% on her investments, how much will she have in her account if she retires 24 years from today?

A. $536,124.93

B. $541,414.14

C. $546,072.91

D. $570,008.77

E. $595,098.67

Q2. You are borrowing money today at a 7.5% interest rate. You will repay the principal plus all the interest in one lump sum of $7,100 two years from today. What is the amount of the loan proceeds?

A. $6.003.47

B. $6,143.86

C. $6.250.00

D. $6.418.30

E. $6.489.99

Q3. In order to help you through college, your parents just deposited $25,000 into a bank account paying 12% interest. Starting tomorrow, you plan to withdraw equal amounts from the account at the beginning of each of the next five years. What is the MOST you can withdraw annually?

A. $6.192.18 D. $7,548.02

B. $7,988.91 E. $8,154.71

C. $8,133.84

Q4. If $50,000 is borrowed at an annual interest rate of 8.7% for nine years, determine the annual payments made at the start of each year.

A. $7.997

B. $7.897

C. $7.727

D. $7.627

E. $7.579

Reference no: EM132955036

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