1) What effective annual rate of return (EAR) would Rayne need to earn if she deposits $1,000 per month into an account beginning one month from today in order to have a total of $1,000,000 in 30 years?

A) 5.98%

B) 6.55%

C) 4.87%

D) 6.14%

2) If a United States Savings bond can be purchased for $29.50 and has a maturity value of $100 at the end of 25 years, what is the annual rate of return on the bond?

A) 5 percent

B) 6 percent

C) 7 percent

D) 8 percent

3) Danny Joe borrows $10,500 from the bank at 11 percent annually compounded interest to be repaid in six equal annual installments. The interest paid in the first year is ________.

A) $1,155

B) $2,481

C) $ 144

D) $1,327

4) How long would it take for you to save an adequate amount for retirement if you deposit $40,000 per year into an account beginning today that pays 12 percent per year if you wish to have a total of $1,000,000 at retirement?

A) 12.2 years

B) 10.5 years

C) 14.8 years

D) 11.5 years

please can you show working