1. At what annual rate of return can you triple your money in 8 years if interest is compounded monthly?
2. At what annual rate of return can you quadruple (means 4 times) your money in 16 years, if interest is compounded quarterly?
3. How many periods will it take you to quadruple (means 4 times) your money at 7%, if interest is compounded semi-annually? how many years will it take?
4. What is the present value of $15,500 received in 10 years if interest of 1% is compounded monthly?
5. What is the present value of $22,000 received in 5 years if interest of 1% is compounded quarterly?