1. How much would be in your savings account in eleven years after depositing $150 today if the bank pays 8 percent per year? Do not round up the answer. Leave answer in dollars and cents.

Question 1 options:

	sometimes negative.
	always less than 0.
	always greater than 1.0.
	never greater than 25.

2. You must determine which of the following scenarios is the better option.

At age 30 you invest $1,000 that earns 8 percent each year. How much money will you have at age 60? $___ (no comma)

At age 40 you invest $1,000 that earns 12 percent per year. How much money will you have at age 60? $_____ (no comma)

In which case (a or b) would you have more money at age 60? Why did you make this choice?

3. If $1,000 were invested now at a 12% interest rate compounded annually, what would be the value of the investment in two years?

Question 3 options:

	$1,210
	$1,188
	$1,254
	$1,160

4. Approximately what interest rate is needed to double an investment over five years? Answer as %, in 2 decimal places.

5. Approximately how many years does it take to double a $100 investment when interest rates are 7 percent per year? xx.xx years.

6. A loan that is repaid in equal payments over a specified time period is called a (n). Question 6 options

	discount loan
	amortized loan
	balloon loan

7. The future value of $200 received today and deposited at 8 percent for three years is

Question 7 options:

	$252.
	$158.
	$200.
	$248.

8. What is the present value of a $1,500 payment made in nine years when the discount rate is 8 percent? Answer should be in dollars and cents.