$287.50 compounded annually at a rate of 8% will grow to _____ in 12 years. a. $516.31 b. $578.51 c. $647.51 d. $723.97 $380 compounded annually at a rate of 6.5% will grow to _____ in 8 years. a. $628.90 b. $583.18 c. $520.06 d. $703.35 How much money do you need to place into a bank account that pays a 1.08% rate today in order to have $500 at the end of 7 years? a. $332.54 b. $463.78 c. $751.81 d. $629.51 How much money do you need to place into a bank account that pays a 6.50% rate today order to have $600 at the end of 5 years? a. $530.31 b. $481.47 c. $437.93 d. $399.03 Which of the following is NOT an example of an annuity? a. The interest received on a bond b. The monthly payments paid on a car loan c. The mortgage payments on a fixed-rate mortgage d. The dividend on a common stock