14.

How long will it take to double your savings if you earn 3.6 percent interest, compounded annually?

Group of answer choices

17.78 years

18.04 years

18.67 years

19.42 years

19.60 years

15.

You want to have $50,000 for a down payment on a house 5 years from now. If you can earn 7.5 percent, compounded annually, on your savings, how much do you need to deposit today to reach your goal?

Group of answer choices

$35,133.35

$34,827.93

$34,677.70

$33,989.16

$32,886.33

16.

Today, Tony is investing $16,000 at 6.5 percent, compounded annually, for 4 years. How much additional income could he earn if he had invested this amount at 7 percent, compounded annually?

Group of answer choices

$323.22

$389.28

$401.16

$442.79

$484.08