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1. The present value of $5,000 per year for three years at 12% compounded annually is...

1. The present value of $5,000 per year for three years at 12% compounded annually is $12,009.

True or false?

2. At an annual interest rate of 8% compounded annually, $5,300 will accumulate to a total of $7,210.65 in 5 years

True or false?

3. Matt is setting up a retirement fund, and he plans on depositing $5,600 per year in an investment that will pay 8% annual interest. How long will it take him to reach her retirement goal of $41,081?

----> 7.34 years, 12 years, 6 years, .136 years, or 3 years?

4. The future value of $100 compounded semiannually for 3 years at 12% equals $140.49.

true or false?

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