40) What is the approximate annual interest rate earned on a deposit that grew from $250 to $505 over the last 5 years? A)15% B) 1396 C)11% D)9% 41) Suppose that you invested $100 in a bank account that earned an annual rate of 10%. How much would you have in that bank account at the end of 10 years? A) $259.37 B) S238.55 C) $293.74 D) $214.46 E) $279.23 42) Based on the Life Cycle of Financial Planning, when would be a good time to review and possibly adjust an effective financial plan? A) A really effective financial plan doesn't need to be adjusted. B) When you get married C) When you have children D) When the stock market goes up E Both B and C are correct answers 43) What is the present value of a S500 payment received at the end of each of the next five years, worth to you today at the appropriate discount rate of 6 percent? A) S1,105 ) s 1,850 C) $2,106 D) $2,778 44) An amortized loan is an example of an annuity, where the payments A) change from month to month. B) do not include interest. C) are the same every month. D) never stop. 45) Carolyn wants to go to Aruba. She has decided that she is willing to spend $100 less on eating meals out every month and save it for the next 1 year. What kind of goal is this? A) Short term, SMART goal B) Intermediate term, SMART goal C) Long term, SMART goal D) Not a SMART goal