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6. What is the future value of $1,200 a year for 40 years at 8 percent interest? As compounding. A. $301,115 B. $306,492 C. $310,868
6. What is the future value of $1,200 a year for 40 years at 8 percent interest? As compounding. A. $301,115 B. $306,492 C. $310,868 D. $342,908 E. $347,267 7. Alexa plans on saving $3,000 a year and expects to earn an annual rate of 10.25 percent. How much will she have in her account at the end of 45 years? A. $1,806,429 B. $1,838,369 C. $2,211,407 D. $2,333,572 E. $2,508,316 8. Which one of the following statements correctly states a relationship? A. Time and future values are inversely related, all else held constant B. Interest rates and time are positively related, all else held constant. C. An increase in time increases the future value given a zero rate of interest. D. Time and present value are inversely related, all else held constant. 9. The higher the future value you want, the lower the amount you need to invest today to achieve that future value, holding the time horizon and interest rate constant. A. True B. False 10. Your coin collection contains fifty-four 1941 silver dollars. Your grandparents purchased them for their face value when they were new. These coins have appreciated at a 10 percent annual rate our collection be worth when you retire in 2060? . $3,611,008 $3,987,456 $4,122,394 $4,421,008 . How much will 4,551,172
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