1. Which of the following were provided in the Money 101 Video as the 5 Basic Money Rules to Use Forever? Choose all that apply.

		Cut up credit cards and close the accounts
		Save and Invest
		Make savings automatic
		Have a positive Net Worth when you graduate from college
		Create an amortization schedule for all of your loans
		Spend less than you make
		Make a plan: Set goals, create a budget, and track everything

2. You just won the $1,000,000 lottery. You can take a cash payout now of $500,000 or receive a 20 year annuity of $50,000 per year at the end of each year. If you have a required return of 7%, which is the better option? (Hint: You need to compare these two options at the same point in time, either in today's dollars or in future dollars 20 years from now.)