FNAN 301
Lab problems – 1/28/2011
Group lab problem (Summer C 2010, quiz 1, question 2, version 2)
Clint just deposited $19,500 in an account that will earn 8.1 percent per year in
compound interest for 12 years.
If Mona deposits $19,500 in an account in 1 year from
today that earns simple interest, then how much simple interest per year must Mona earn
to have the same amount of money in 12 years from today as Clint will have in 12 years
from today?
Group lab problem
Ginger plans to invest $1,500 in 5 years from today.
She will earn compound interest of
21.4 percent per year.
Today, Chang can make an investment and earn simple interest of
8.7 percent per year.
If Chang wants to have just as much in 9 years from today as
Ginger will have in 9 years from today, then how much should Chang invest today?
Group lab problem
Velma just deposited $950 in an account that will earn 7.4 percent per year in simple
interest for 8 years.
If Gretchen makes a deposit in an account in two years that earns
compound interest of 9.7 percent per year, then how much must Gretchen invest in 2
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 Spring '09
 MURRAY
 Interest, Deposit account, Lab problem, Group lab problem

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