11- Assume the total cost of a college education will be $300,000 when your child enters college in 18 years. You presently have $65,000 to invest. What annual rate of return must you earn on your investment to cover the cost of your child's college education? (8.87%) 12- Suppose you will receive $575,000 from the proceeds of an insurance policy in 20 years. Assuming a discount rate of 4.8%, what is it worth to you today? ($225,135) 13- You have $25,000 to invest. At an interest rate of 6.5%, how long would it take you to double your money? (11 years) 14- You have determined that you will need $1,500,000 to fund your retirement. If you plan to retire in 30 years, and you believe you can earn a return of 9%, how much must you invest each month in order to achieve your goal? ($819.34) 15. Your grandparents have given you a coin collection that contains fifty 1952 silver dollars. If your grandparents purchased them for their face value ($50) when they were new, how much will your collection be worth in 2060, assuming they appreciate at 4.1% annually? ($3,833.97) 16- If a nominal interest rate is 12% and is compounded quarterly, what is the effective annual rate? (12.55%)