1A. An investment will pay you $16,000 in 8 years. The appropriate discount rate is 12 percent compounded daily. What is the present value?

A. $6,127.25

B. $5,820.89

C. $6,311.07

D. $6,433.62

E. $6,462.13

1B. You are planning to make monthly deposits of $150 into a retirement account that pays 12 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 27 years?

A. $343,796.94

B. $304,873.21

C. $4,342,698.23

D. $361,891.52

E. $379,986.09