help with half of a finance quiz
1. What interest rate would I have to earn to triple my money over a 10 year period? ; Assume ;annual ;compounding. ; (If the answer is 13.95%, enter 13.95. ; Do not put 0.1395 or use the % symbol.
2. ;King Felix (Seattle Mariner Pitcher) will receive $29,000,000 in the final year of his contract (7 years from now). ; If the discount rate is 8% per year, what is the salary worth in today’s dollars? ; For simplicity assume that he gets the salary in a lump sum exactly 7 years from now. ; Don’t put any symbols ($ or , ) in your answer.
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3. ; ;How much did I just borrow from the credit union if my car payments are 412.56 per month for the next 4 years and the interest rate (on an annual basis) is 3.49%?
4. ; ;If I invest $5,000 and earn 8% per year, compounded ;monthly ;for 5 years, what is the future value?