Problem 1: Keeshawn invests $20,000 in a stock fund that has been paying 8% compounded quarterly for the past 10 years. Assuming that the fund continues to perform as it has for the past 10 years, how long will it take for Keeshawn's money to double?
Problem 2: Willie plans to invest $4,000 in a bond fund that has been returning 7% compound annually for the past 5 years. If it continues to perform as is has in the past, what will be the value of his account in 3 years?
Problem 3: Suppose that the cost of goods continue to increase at the rate of 2.5% per year for the next 30 years. In how many years will goods that cost $2.00 today will cost $3.00?
Problem 4: Timmie deposited $10,000 into an account that pays 9% compounded monthly. If she makes no deposits or withdrawals, what will be the balance in 3 years?
Problem 5: If you need $5,000 five years from now, how much should you deposit today in an account that pays 6% compounded quarterly?
Problem 6: Jim invests in a bond fund that has been paying 3% compounded monthly. If it continues to perform as it has in the past, how long will it take for Jim to double his investment?
Problem 7: $20,000 is invested in a bank account that pays 3% compounded monthly. If no deposits or withdrawals are made, what will be the balance in 10 months?