## MAT 120 Sample Quiz

1. For 20 years, $100 is invested at the end of every quarter at 8% compounded quarterly.

A. How much will be in the account at the end of 20 years?

B. How much interest will
have been earned in that time span?

C. What is the annual percentage yield of this
investment?

D. Complete the first three lines of the table showing the period by
period details of this investment:

2. For 50 years, a deposit is made at the end of each month into an account earning 4% compounded monthly.

A. How much would need to be
invested at the end of each month in order to have $1,000,000 at the end
of 50 years?

B. How much interest would be earned during that time span?

C. What
is the annual percentage yield of this investment?

D. Complete the first three lines of the table showing the period by
period details of this investment:

Answers