1. Marty plans to discharge his debt of 3,500 in two payments, $1500 in 10 months, and $2000 in 15 months. If he changes his mind and wants to pay his debt off in one payment, when would that be if the interest rate is 24%?
2. How long will it take an investment fund of $4000 to be (a) $8000, and (b) $12,000 (c) $20,000 if the interest rate is 10%?
3. If an investor is planning to multiply his initial investment 50-fold when would that be possible if the interest rate is 15 1/2%?
4. Find the future value of the cash flow of $600 a month for 5 years at 9% interest compounded monthly.
5. If Brenda Contributes $630 at the end of each month to her retirement account that pays 8 3/4% compounded semiannually, how much will she have when she retires 20 years from the start of contributions?