16.If Marry received $10,000 today and deposited the amount into an investment account that pays 12% interest compounded quarterly for 6 years, calculate the future value. a. $32,846 b. $21,524 c. $5,456 d. $20,328

18.Your finance lecturer, suggests that you should have $1,500,000 in your retirement portfolio before you even THINK about retiring. Recently, you received $200,000 from your wealthy grandmother as a birthday present. How much of the $200,000 must you set aside today if you invest a portion of the money at an annual rate of 7.0% and you wish to retire in 30 years with the amount suggested by your finance lecturer

a. $149,066

b. $197,051

c. $169,086

d. At an annual rate of return of 7.0%, $200,000 is not a large enough investment to reach the goal amount of $1,500,000 in 30 years.

20.Emma wishes to accumulate $1,000,000 by the end of 20 years by making equal annual end-of-year saving deposits over the next 20 years. How much must she deposit at the end of each year, assuming if she can earn 10% per annum on his investments?

a. $ 50,000

b. $ 14,900

c. $117,453

d. $ 17,460