1.You are scheduled to receive $7,500 in two years. When you receive it, you will invest it at 4.5 percent per year. How much will your investment be worth ten years from now?

$10,665.75

$11,428.09

$9,110.24

$10,113.33

$11,617.07

2. Western Bank pays 5 percent simple interest on its savings account balances, whereas Eastern Bank pays 5 percent compounded annually. If you deposited $6,000in each bank, how much more money would you earn from the Eastern Bank account at the end of 3 years?

$55.84

$45.75

$60.47

$40.09

$50.14

3. At 10 percent interest, how long does it take to triple your money?

14.33 years

11.53 years

9.67 years

10.36 years

10.56 years

4. You have $500 today and want to triple your money in 6 years. What interest rate must you earn if the interest is compounded annually?

18.08 percent

19.90 percent

22.15 percent

20.09 percent

21.21 percent