1. If $30,000 is invested today at 6 percent compounded quarterly, how long will it take to accumulate $40,407?

2. If $8,000 is invested today and will accumulate to $30,957.60 in 10 years, what annual interest rate compounded semiannually will generate this amount?

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3. How long will it take to double an investment of $4,300 if the investment can generate an 8 percent return that is compounded semiannually?

How much will an investment of $8,000 be worth at the end of five years if it earns:

A. 3 percent interest compounded monthly?

B. 4 percent interest compounded monthly?

C. 3 percent interest compounded semimonthly?

D. 4 percent interest compounded semimonthly?

E. Explain the difference between part A and part C.

What is the present value of $8,000 five years from today if interest is:

A. 3 percent compounded monthly?

B. 4 percent compounded monthly?

C. 3 percent compounded semimonthly?

D. 4 percent compounded semimonthly?

E. Explain the difference between part A and part C.

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