19. Some time ago, Julie purchased eleven acres of land costing $36,900. Today, that land is valued at $214,800. How long has she owned this land if the price of the land has been increasing at 10.5 percent per year? A. 13.33 years B. 16.98 years C. 17.64 years D. 19.29 years E. 21.08 years 20. The future value interest factor is computed as: c. (a+r) x t D. 1+r t E.(I+r) xr. 21. On your ninth birthday, you received $300 which you invested at 4.5 percent interest compounded annually. Your investment is worth $756. How old are you today? A. 29 B. 30 C. 31 D. 32 E. 33 22. What is the effective annual rate if a bank charges you 9.5 percent compounded quarterly? A, 9.62 % B. 968 % C, 9.72 % D. 9.84% E. 9.91 % 23. At 11 percent interest, how long would it take to quadruple your money? ho B ss ears B. 6.64 years A. 6.55 years C. 13.09 years D. 13.28 years E. 13.56 years 24. Your credit card company quotes you a rate of 17.9 percent. Interest is billed monthly. What is the actual rate of interest you are paying? A, 19,03 % B.19.21 % C. 19.44 % D. 19.57 % E. 19.72 %