11. A recent advertisement "Invest your money with us at 14 percent, compounded annually, and in the financial section of a magazine carried the following claim: we guarantee to double ur money sooner than you imagine." Ignoring taxes, how long would it take to double your money at a simple rate of 14 percent, compounded annually? a. Approximately 3.5 years b. Approximately 5 years c. Exactly 7 years d. Approximately 10 years e. Exactly 14 years 12. What is the present value of a 5-year ordinary annuity with annual payments of $200, evaluated at a 15 percent interest rate? a. 5670,4 b, 5842.9 e. $1,169.56 d. $1,34N.48 e, 1,522.64