10. Aaron invests $2000 in an investment that pays 4% annual interest, compounded monthly, for 20 years. The total amoun

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10 Aaron Invests 2000 In An Investment That Pays 4 Annual Interest Compounded Monthly For 20 Years The Total Amoun 1 (64.04 KiB) Viewed 47 times

10. Aaron invests $2000 in an investment that pays 4% annual interest, compounded monthly, for 20 years. The total amount of interest that he will be paid is a. $2137.64 c. $4445.16 b. $137.64 d. $2445.16 11. What is the present value of an investment earning 4% annual interest, compounded annually, if at the end of 10 years the investment is worth $16 250? a. $10977.92 c. $10 914.36 b. $10 935.78 d. $10 899.95 12. Paula makes quarterly payments of $750 into an account that pays 7% per year, compounded quarterly. How much money will be in her account in 5 years? a. $17 252.22 c. $15 861.08 b. $17 776.20 d. $17 776.21 13. Marco makes monthly payments of $75 into an account that pays 3.5% per year, compounded monthly. How much money will be in his account in 10 years? a. $10 757.44 c. $10 558.25 b. $10 480.61 d. $11 160.98 14. Kate makes annual payments of $5000 into an account that pays 9.5% per year, compounded annually. How much money will be in her account in 15 years? a $79 302.27 c. $152 701.15 b. $80 198.79 d. $134 886.90 15. Mohammed invested $6500 annually into a mutual fund that averaged 12% net growth per year with interest compounded annually. How much was his investment worth after 4 years? a $31 065.63 c. $27 193.58 b. $26 471.75 d. $34 892.00