# At what rate must \$400 be compounded annually for it to grow to \$716.40 in 10 years? A) 6% B) 5% C) 7% D) 8%

1) At what rate must \$400 be compounded annually for it to grow to \$716.40 in 10 years?

1. A) 6%
2. B) 5%
3. C) 7%
4. D) 8%

2) You just purchased a parcel of land for \$10,000. If you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years?

1. A) \$25,000
2. B) \$31,060
3. C) \$38,720
4. D) \$34,310

3) If you place \$50 in a savings account with an interest rate of 7% compounded weekly, what will the investment be worth at the end of five years (round to the nearest dollar)?

1. A) \$72
2. B) \$70
3. C) \$71
4. D) \$57

4) Shorty Jones wants to buy a one-way bus ticket to Mule-Snort, Pennsylvania. The ticket costs \$142, but Mr. Jones has only \$80. If Shorty puts the money in an account that pays 9% interest compounded monthly, how many months must Shorty wait until he has \$142 (round to the nearest month)?

1. A) 73 months
2. B) 75 months
3. C) 77 months
4. D) 79 months

5) If you want to have \$1,700 in seven years, how much money must you put in a savings account today? Assume that the savings account pays 6% and it is compounded quarterly (round to the nearest \$10).

1. A) \$1,120
2. B) \$1,130
3. C) \$1,110
4. D) \$1,140

6) If you want to have \$1,200 in 27 months, how much money must you put in a savings account today? Assume that the savings account pays 14% and it is compounded monthly (round to the nearest \$10).

1. A) \$910
2. B) \$890
3. C) \$880
4. D) \$860

7) You bought a painting 10 years ago as an investment. You originally paid \$85,000 for it. If you sold it for \$484,050, what was your annual return on investment?

1. A) 47%
2. B) 4.7%
3. C) 19%
4. D) 12.8%

8) You deposit \$5,000 today in an account drawing 12% compounded quarterly. How much will you have in the account at the end of 2 1/2 years?

1. A) \$7,401
2. B) \$5,523
3. C) \$7,128
4. D) \$6,720

9) How many years will it take for an initial investment of \$200 to grow to \$544 if it is invested today at 8% compounded annually?

1. A) 8 years
2. B) 10 years
3. C) 11 years
4. D) 13 years

10) If you purchased a share of Mico.com stock on March 1, 1993 for \$45 and you sold the stock at \$168 on February 28, 1998, what was your annual rate of return on the stock?

1. A) 83%
2. B) 75%
3. C) 20%
4. D) 30%
5. E) 50%