12 - 12) Il a s10,000 investment carns interest of $500 in one year, what is its rate of return A) 50 percent B) 75 percent C) 100 percent D) 10 percent E).5 percent 13) If a $10,000 investment earns a 7% annual return what should its value be after 6 13) years? A) SI5,100 B) $15,000 C) $10,000 D) $10,700 E) $15,010 14) 14) If Melinda Miller estimates that her $100 grocery bill will increase at an annual inflation rate of 4%, what should her weekly grocery bill be in 3 years? A) SI14.00 B) $100.00 CS11250 D ) $112.00 E) $121.00 15) 15) Randy Hill wants to retire in 20 years with $1.000.000. If he can earn 10% per year on his investments, how much does he need to deposit each year to reach his goal? Round your answer to the nearest dollar. A) $5,727 B) $18,000 C) $25,000 D) $17,460 E) None of the above TRUE/FALSE. Mark "A" for true, "B" for false. 16) 16) Money management refers to day-to-day financial activities necessary to manage current personal economic resources while working toward long-term financial security. MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 17) 17) The main purposes of personal financial statements are to A) Measure your progress toward financial goals. B) Maintain information about your financial activities C) Provide data for preparing tax forms or applying for credit D) Report your current financial position. E) All of the above are correct