7.

You want to have $57,000 in your savings account 3 years from now, and you're prepared to make equal annual deposits into the account at the end of each year.

If the account pays 6.9 percent interest, what amount must you deposit each year?

a) $21,316.90

b) $19,000.00

c) $3,932.95

d) $17,747.27

e) $3,933.04

6.

What is the future value of $800 in 25 years assuming an interest rate of 12 percent compounded semiannually?

a)$1,012.85

b) $13,999.32

c) $13,600.05

d) $1,182.73

e) $14,736.12