1. Assume Sheryl Jenkins wants to accumulate $ 13,898.00 in two years. She currently has $ 10,950.60 to invest. What interest rate must she earn on her investment (that is, if she deposits $ 10,950.60 today) to have $ 13,898.00 exactly two years from today?
2. Assume Bill Jones invested $ 2,696.01 into an account exactly one year ago. The account has an interest rate of 6.0 % p.a. How much does Bill have in his account today (that is, exactly one year after the initial deposit)?
3. Your account pays interest at 5 percent p.a.. You deposit $ 29,073 in it today. You must have exactly $ 81,655 in the account at the end of two years. What should you do at the end of the first year (that is, what dollar amount must you deposit) to ensure this?
4. You deposit $ 55,795 in your account today. You make another deposit at t = 1 of $ 53,049 . How much will there be in your account at the end of year 2 if the interest rate is 15 percent p.a.?