28. Holding all other variables constant, which of the following could cause a firm's current ratio to decrease from 3.0 to 2.5? An increase in: a. accounts payable b. accounts receivable c. inventory d. long-term debt 29. Which of the following would be most responsible for a company's average collection period being higher than the industry average? a. If a company's growth in sales is greater than the growth of sales in the industry b. Having credit policy standards that are more restrictive than its competitors. c. Being more lenient in extending credit to its customers than its competitors. d. Being more aggressive in collecting its accounts receivable than its competitors. e. None of the above. 30. At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years? a. 6 percent c. 7 percent b. 5 percent d. 8 percent If you want to have $1700 in seven years, how much money must you put in a savings account today? Assume that the savings account pays 6% and it is compounded quarterly (round to the nearest $10). 31. a. $1,120 C. $1,110 b. $1,130 d. $1,140