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Find the exact and ordinary interest on $2190 for 75 days at 12% interest. 3. Find the future value if $20,000 is invested at 6% for 3 months. 4. Find the present value of $1000 at 9% due 8 months from now. 5. Find the present value and the effective rate of $1000 due in 4 months at 12% interest. 6. If $500 is invested at 6% compounded annually, what will be the future value 30 years later? 7. At 8% compounded annually, how many years will it take for $2000 to grow to $3000? 8. At what interest rate compounded annually will a sum of money would be double/ triple in 10 years? 9. What is the present value of $2500 payable 4 years from now at 8% compounded quarterly/ semiannually? 10. If $100 is deposited in an account each month for 10 years and the account earns 7% compounded monthly; how much will be in the account after the last deposit is made? 11. If $500 were invested for 8 years at interest rate 6% compounded quarterly, then what will be the compound interest? 12. An investor has an opportunity to purchase two different notes: Note A pays 15% compounded monthly and Note B pays 15.2% compounded semiannually. Which is the better investment? 13. What is the present value of an annuity that pays $200 per month for 5 years if money is worth 6% compounded monthly? 14. What is the value of an annuity at the end of 20 years if $2000 is deposited each year into an account earning 8.5 % compounded annually? How much of this value is interest? 15. How much should you invest now at 10% compounded quarterly to have $8,000 toward the purchase of a car in 5 years?

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