Your oldest daughter is about to start kindergarten in a private school. tuition is $ 20 comma 000 per year, payable at the beginning of the school year. you expect to keep your daughter in private school through high school. you expect tuition to increase at a rate of 6 % per year over the 13 years of her schooling. what is the present value of your tuition payments if the interest rate is 6 % per year? how much would you need to have in the bank now to fund all 13 years of tuition?

1. what is the amount of interest earned after two years on a $100 deposit paying 4 percent simple interest annually? $8.00 $4.08 $8.16 $4.00 2. what is the amount of compound interest earned after three years on a $100 deposit paying 8 percent interest annually? $24.00 $8.00 $16.64 $25.97 3. a business just took out a loan for $100,000 at 10% interest. if the business pays the loan off in three months, how much did the business pay in interest? $2,500.00 $10.00 $250.00 $10,000.00 4. what is the annual percentage yield (apy) for a deposit paying 5 percent interest with monthly compounding? 5.00% 5.12% 79.59% 0.42%