# What is the future value of \$2,944 invested for 9 years at 6.00 percent compounded annually?

What is the future value of \$2,944 invested for 9 years at 6.00 percent compounded annually?

One year ago, you invested \$3,140. Today it is worth \$3,700.50. What rate of interest did you earn?

Some time ago, Julie purchased eleven acres of land costing \$15,190. Today, that land is valued at \$59,547. How long has she owned this land if the price of the land has been increasing at 5 percent per year?

 First City Bank pays 8 percent simple interest on its savings account balances, whereas Second City Bank pays 8 percent interest compounded annually.
 If you made a \$61,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of 8 years
 Compute the future value of \$1,000 compounded annually for 20 years at 6 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
 Future value \$
 b. Compute the future value of \$1,000 compounded annually for 15 years at 9 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
 Future value \$
 c. Compute the future value of \$1,000 compounded annually for 25 years at 6 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
 Future value \$
 For each of the following, compute the present value (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.):
 Present Value Years Interest Rate Future value \$ 12 6 % \$ 15,951 3 12 56,557 28 13 891,073 30 10 555,164