**FIN100 Week 4 Homework**

**Question 1**

Find the future value of $10,000 invested now after five years if the annual interest rate is 8 percent. What would be the future value if the interest rate is a simple interest rate?

$14,000

$14,200

$16,000

$11,000

**Question 2**

Find the future value of $10,000 invested now after five years if the annual interest rate is 8 percent. What would be the future value if the interest rate is a compound interest rate?

$14,590

$14,690

$16,690

$13,960

Determine the future values if $5,000 is invested in each of the following situations:

· 5 percent for ten years

$8,145

$7,145

$6,145

$7,415

**Question 4**

Determine the future value if $5,000 is invested in each of the following situations:

· 7 percent for seven years

$8,130

$8,031

$8,030

$7,030

Determine the future value if $5,000 is invested in each of the following situations:

· 9 percent for four years

$7,260

$7,620

$7,062

$7,060

**Question 6**

Find the present value of $7,000 to be received one year from now, assuming a 3 percent annual discount interest rate. Also calculate the present value if the $7,000 is received after two years.

$6,796.12 and $6,598.17

$7,696.13 and $5,698.17

$6,976.12 and $6,968.17

$6,796.12 and $6,859.17

Use a financial calculator or computer software program to answer the following questions:

· What would be the future value of $15,555 invested now if it earns interest at 14.5 percent for seven years?

$30,134

$40,134

$50,134

$25,000

**Question 8**

What would be the future value of $19,378 invested now if the money remains deposited for eight years and the annual interest rate is 18 percent?

$72,839

$73,296

$70,296

$71,000

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