1. 4.4-4.5

2. Interest Rate We are given $42.38 and we invest that in an account that bears 3.5% interest that is compounded quarterly. How much will this be worth in 3 years?

3. Interest Rate Given Future Value We want to have $10,000 as a down payment on our house we plan to buy in 8 years. How much would we need to invest now in a savings bond that bears 5% interest and is compounded monthly.

4. Future Value You want to have $5000 saved up by the time you enter college your freshman year. You plan to invest in an account that bears 8% twice per year. How much do you need to invest today if you start college in 3 years?

5. Depreciation You purchase an Expo Marker for $350. It depreciates at a rate of 17% per year. How much is it worth after 3 years?

6. Interest Rate (first year =0) You are given $1200 in 2012. You invest in an account that bears 7.05% interest, compounded semi-annually until 2021. How much is your investment worth?