7.6 HW TVM Solver

Mr. Jones has $410,000 in a retirement account that earns 3.85% compounded each year. Find the amount earned by this investment after 10 years.

• $598,203.38

• $426,061.30

• $411,578.50

• $411,581.24

Malik deposited $1050 in a savings account that compounds quarterly, it earned $241.50 in interest after four years. Find the interest rate on Malik’s savings account.

• 5.2%

• 35.1%

• 38.5%

• 6.6%

Kelli Rae’s inheritance from her great-grandmother was $300,000 after taxes. From that amount, she had to pay $80,000 in taxes. She invested the remaining amount in a savings account that is compounded monthly. After 10 years, Kelli Rae had $250,000. What is the interest rate on this account?

• 1.28%

• 15.44%

• 1.82%

• 11.45%

Mona opened a savings account with a $500 deposit and a monthly compounded rate of 5.6%. If there were no deposits or withdrawals, how much money is in the account after 8.5 years?

• $803.92

• $524.37

• $520.18

• $310.98

When Melissa was born, her parents put $8000 into a college fund account that earned 9% compounded semi-annually. Find the total amount in the account after 18 years.

• $39,019.03

• $17,667.83

• $1,640.23

• $9,573.44

In the TVM Solver, what does I% represent?

• Interest rate as a %

• Interest rate as a decimal

• Level of interest in mathematics

In the TVM Solver, what does N represent?

• Total number of compounding periods

• Number of compounding periods per year

• Number of years

• Nachos

In the TVM Solver, what does PV represent?

• Present value

• Pre-visualization

• Physical Volume

• Pizza Village

In the TVM Solver, what does PMT represent?

• Recurring payment/deposit amount

• Project maturity table

• Permit

• Pulsed Magnetic Therapy

In the TVM Solver, what does FV represent?

• Future Value

• Favorite Vulture

• FarmVille

• Full Vacuum