15) Which of the following will result in a future value of greater than $100? a) PV = $50, r=an annual interest rate of 10%, and n=8 years. b) PV = $75, r=an annual interest rate of 12%, and n = 3 years. c) PV = $90,r- an annual interest rate of 14%, and n - 1 years. d) All the future values are greater than $100 16) A home improvement firm has quoted a price of $9800 to fix up John's backyard. Five years ago John put $7500 into a home improvement account that has earned an average of 5.25% per year. Does John have enough money in his account to pay for the backyard fix-up? a) Yes. John now has exactly $9800 in his home improvement account b) No. John has only $9687 in his home improvement account. c) Yes. John now has $10519 in his home improvement account. d) There is not enough information to answer this question. 17) You have purchased a savings bond that will pay $10,000 to your newborn child in fifteen years. If the bank discounts this bond at a rate of 3.875% per year, what is today's price (the present value) for this bond? a) 58417 b) S8500 e) S5654 d) $10000 the future cash 18) To determine the present value of a future amount, one should flows. a) Annuitize b) Compound ORI