18. You would like to retire on $1,000,000. You plan on a 7% annual investment rate and will put away $7,500 twice a year at the end of each semi-annual period. How many years before you can retire? Round to the nearest figure.

a. 51 years

b. 25 years

c. 35 years

d. 66 years

19. The project selection method most consistent with the goal of firm value maximization is:

a. payback method

b. RR c. NPV d. both IRR and NPV

20. The NPV profile is a graph that: a. has NPV on one axis and IRR on the other b. shows how NPV changes for different cash flows c. shows a project's NPV given different discount rates

d. is used to rank mutually exclusive projects