1 i) You open an account that earns 12% interest and start saving $1000 at the end of this year. You have the option increase your saving by 5% each year, or keep your contribution constant each year. If you do not increase your savings by 5%, how muchlesswill you have in your account after 15 years than if you increased your contributions?Round your answer to the nearest dollar.

ii) What would happen if interest rates were negative?

A) You would have an error

B)Present value would be smaller than future value

C) Present value would be greater than future value

D) Money would be very expensive

iii) Your brother lent you $86 five years ago.You gave him an I.O.U. to pay him back with $149 today.What was the interest rate on this loan?

iv) You deposited $750 in a mutual fund each year over the past seven years. Your account balance is $7700. What annual rate of return did you realize? Answer in percent and round to one hundredth of a percent.