1. Sue now has $280. how much would she have after 8 ys if she leaves it invested at 8% with annual compounding? a. $2,978 b. $588.24 c. $577.77 d $639.95 e. none of the above

2. How much would $5000 due in 25 years be worth today if the discount rate were 5%?

a.$1,166.94 b.$1,101.38 c. $1475.00 d $1232.50 e $983.00

3.You plan to invest in securities that pay 7.0%, compounded annually. If you invest $5000 today, how many years will it take your investment to grow to $9,190?

a. 7 b. 9 c. 6 d. 8.5 e. 8