1. 8 years ago you started making annual deposits of $373 into an account paying 9% annual return. You continue to make these deposits every year without fail. If you keep doing this every year for the next 9 years, how much money will you have in 9 years?
2. A bond issued by IBM on December 1, 1996, is scheduled to mature on December 1, 2096. If today is December 2, 2005, what is this bond’s time to maturit
3. The interest rate offered on a 5-year certificate of deposit at the National Bank of Emporium is 8.42% compound daily. If Sean deposits $72,500 in one of these CDs, how much interest did Sean earn?