Reference no: EM132905283
Questions -
Q1. Parker bought a 15-year treasury bond for a face amount of $400. The 3.5% interest will be compounded quarterly. What will the future value of Patrick's investment be when he goes to cash it in on the maturity date 15 years from now?
A. $674.64
B. $3,151.24
C. $414.18
D. $670.14
Q2. Fiona deposits $4,000 at the end of each year in an account earning 2.15% interest, compounded annually. What is the future value of this annuity after 5 years of investing?
A. $20,878.69
B. $22,975.90
C. $23,682.00
D. $26,409.50
Q3. Ralph is 27 years old and starting an IRA (individual retirement account). He is going to invest $200 at the beginning of each month. The account is expected to earn 2.65% interest, compounded monthly. How much money will Ricky have in his IRA when he retires, at age 65?
A. $157,419.08
B. $94,723.10
C. $13,183.51
D. $416,424.15
Q4. Grace starts to save at age 20 for an extended vacation around the world that she will take on her 45th birthday. She will contribute $250 four times each year to the account, which earns 1.85% annual interest, compounded annually. What is the future value of this investment when she takes her trip?
A. $69,277.66
B. $7,923.61
C. $126,777.68
D. $31,423.90
Q5. Eliot opens a savings account with $5,000. He deposits $50 every month into the account that compounds annually and has a 0.95% interest rate. What will his account total be in 5 years?
A. $3,057.54
B. $5,242.06
C. $5,496.85
D. $8,299.60
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