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1. Shortly after graduation, you put $3,000 into an account that gives you 12% interest. How much will you have in 25 years if you

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1. Shortly after graduation, you put $3,000 into an account that gives you 12% interest. How much will you have in 25 years if you make no further deposits and do not withdraw any money over that time period? A. $9,000.00 B. $12,000.00 C. $12,300.00 D. $51,000.19 E. None of the above 2. What is the future value of the following ordinary annuity: $750 per year for 12 years at 12% annually compounding interest? A. $4,237.67 B. $8,400.00 C. $13,161.55 D. $18,099.85 E. None of the above 3. You just received a cash advance offer in an email. The company is offering you $15,000 at 17.9 percent interest compounded monthly. The monthly payment is only $325. If you accept this offer, how long will it take you to pay off the loan if you continue to pay the minimum monthly payment? A. 5.32 years B. 6.56 years C. 12.65 years D. 17.11 years E. None of the above 4. If you invest $8,000 today into a savings account that pays 5.25% interest compounded daily, what will your balance be 10 years from now? A. $13,344.77 B. $13,523.16 C. $14,668.29 D. $14,945.17 E. None of the above

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