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# QUESTION 1 Solve the problem. Round to the nearest cent. A small company borrows at compounded monthly. The loan is due in How much interest will the...

QUESTION 1

**Solve the problem. Round to the nearest cent.**- A small company borrows at compounded monthly. The loan is due in How much interest will the company pay?
- $117,605.05
- $115,913.49
- $115,549.55
- $207,605.05

**1.00000 points **

**Find the APY corresponding to the given nominal rates.**- 4.5% compounded quarterly
- 4.59%
- 4.5%
- 4.55%
- 4.58%

**1.00000 points **

**Find the compound interest earned by the deposit. Round to the nearest cent.**- $16,000 at 3% compounded annually for 13 years
- $6240.00
- $7496.54
- $6812.17
- $5760.00

**1.00000 points **

**Find the amount that should be invested now to accumulate the following amount, if the money is compounded as indicated.**- $2400 at 6% compounded annually for 7 yr
- $1691.91
- $803.86
- $1596.14
- $3608.71

**1.00000 points **

**Solve the problem.**- A bank gives you two options to choose from for your investments:
- Option A: 6% annual interest rate compounded yearly; and
- Option B: 5.9% annual interest rate compounded quarterly.
- Decide which is the better investment at the end of 2 years.
- Option A
- Option B

**1.00000 points **

**Find the interest rate (with annual compounding) that makes the statement true. Round to the nearest tenth when necessary.**- $10,000 grows to $10,816.00 in 2 years
- 4.25%
- 2%
- 4%
- 2.5%

**1.00000 points **

**Find the compound amount for the deposit. Round to the nearest cent.**- $1000 at 8% compounded annually for 8 years
- $1640.00
- $1850.93
- $1560.00
- $1713.82

**1.00000 points **

**Solve the problem.**- Find the face value (to the nearest thousand dollars) of the 10-year zero-coupon bond at 3.6% (compounded semiannually) with a price of $17,498.
- $15,800
- $25,000
- $15,000
- $25,500

**1.00000 points **

**Find the compound amount and the interest earned when the given investment has continuous compounding.**- $11,000 at 2.3% for 8 years
- $13,529.81; $2529.81
- $13,222.17; $2222.17
- $11,255.93; $255.93
- $13,024.00; $2024.00

**1.00000 points **

**Solve the problem.**- $1334 is deposited into a savings account at 8% interest, compounded quarterly. To the nearest year, how long will it take for the account balance to reach $1,000,000?
- 117 years
- 75 years
- 84 years
- 58 years