Work the following applied problem.

Bill Poole wants to have $20,000 available in 5 years for a down payment on a house. He has inherited$16,000. How much of the inheritance should he invest now to accumulate the $20,000 if he can get an interest rate of 5.5% compounded quarterly?

If $5,000 is invested at 5% compounded monthly, what is the amount after (A) 2 years? (B) 4 years?

Find the semiannual (simple) interest payment and the total interest earned over the life of the bond.

$20,000 General Electric 9-year bond at 5.25% annual interest

Solve the equation for the unknown quantity. $14,641=10,000(1.1)^{n}$

If there is $\$ 100$ is invested at $6 \%$ compounded (A) annually (B) quarterly (C) monthly what is the amount after 4 years? How much interest is earned?

Solve the equation for the unknown quantity. $6.75=3(1+i)^{2}$

Solve the equation for the unknown quantity

$$12 x^3=58,956$$

If there is $\$ 8,000$ is invested at $7 \%$ compounded continuously, what is the amount after $6$ years?

Use the given interest rate 'i' per compounding period to find 'r', the annual rate.

$1.4 \%$ per quarter

Use the given annual interest rate 'r' and the compounding period to find 'i', the interest rate per compounding period.

$9 \%$ compounded monthly

Use the given annual interest rate 'r' and the compounding period to find 'i', the interest rate per compounding period.

$14.6 \%$ compounded daily

Use the given annual interest rate 'r' and the compounding period to find 'i', the interest rate per compounding period.

$4.8 \%$ compounded quarterly

Use the continuous compound interest formula (3) to find the indicated values. $A=\$ 23,600 ; P=\$ 19,150 ; t=60$ months; $r=$ ?

Use the continuous compound interest formula (3) to find each of the indicated values. $A=\$ 88,000 ; P=\$ 71,153 ; r=8.5 \% ; t=?$