2. You have a choice of $1 million in 50 years or $1,600 today. If your interest rate is 14%, which would you choose? (show your work to receive credit).

3. You are looking at 2 investments. One will pay you $550 a year for the next 15 years. The other one will pay you $24,000 in 20 years. If your rate of return is 9%, which is the best investment for you? (show your work to receive credit).