15. In the Planning-for-College application: a. The dollar amount of savings needed in year 17 can be viewed as a growing annuity. b. The future value of a level annuity can be used to solve for the annual savings installment. c. Changing the return on investment from 8% to 7% raises the annual savings installment. d. The future value of a growing annuity can be used to find an annual savings schedule. e. All of these choices are correct. 16. Which one of the following is a working capital decision? a. Deciding whether to repay a long-term debt. b. Deciding whether or not to launch an advertising campaign. c. Deciding whether to pay a cash dividend to long-term shareholders. d. Deciding how much long-term debt should be borrowed from a particular lender. e. Deciding how much money should be kept in the checking account. 17. The interest rate earned per year divided by the number of periods per year is called rate. a. effective annual b. annual percentage c. periodic interest d. compound interest e. daily interest