1.

Lauren is attending her middle school graduation. She has $91,000 in the bank account and is hoping this will be enough to pay for her college. The cost of college today is $110,000. She expects to need this money in 8 years. Does she have enough money saved up today to pay for her college? Assume she is able to earn 6.5% annually on her savings, and college inflation is expected to be 4.5%.

Group of answer choices

No, she is short $5,826.46

No, she is short $3,232.84

No, she is short $5,685.40

2.

Billy and Jean have a baby and set aside $12,500 in a college savings plan. How much will be available for the child for college after 18 years? Assume a 7.5% return. Assume weekly compounding.

Group of answer choices

$43,650.17

$48,170.94

$45,947.55

3. Indiana Jones keeps the fountain of life and ends up being able to live forever. If he deposited $1.35 in a bank account that earns 2.5% every year, how much would he have after 1,000 years?

$23.2 million

$112.5 billion

$71.5 billion