1. As the corporate treasurer, you must have $65,000 to purchase a new machine two years from today. Your company investments have been yielding 10% annually, compounded quarterly. How much will you have to invest today to have $65,000 in two years?
Select one:
A. $53,349
B. $54,719
C. $55,262
D. $56,543
2. Lou Lewis borrows $100,000 to be repaid over 10 years at 6 pecent. How much total interest will be paid over the life of this loan?
Select one:
A. $35,868
B. $37,764
C. $39,742
D. $41,885
3. Mr. Jones plans to invest $500 per month for the next five years in a mutual fund averaging an annual return of 10%. At the end of the five years, Mr. Jones wants to invest the entire amount to yield 8% for 10 years. If all goes according to plan, how much will Mr. Jones have 15 years from now!
Select one:
A. $17,444
B. $38,719
C. $57,983
D. $83,590