1.If you put $1,000 into a bank account that earns an interest rate of 4 percent compounded annually, what will be the account balance at the end of 5 years?

$1,020.65

$1,216.65

$1,200.00

$1,210.65

2.What is the present value of $15,000 to be received in 6 years if you earn 8 percent compounded quarterly?

$13,319.57

$9,452.54

$9,325.82

$10,000.00