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9 All County Insurance Inc. promises to pay Ted $1 million on his 65th birthday in return for a one-time payment of $75,000 today. (Ted
9 All County Insurance Inc. promises to pay Ted $1 million on his 65th birthday in return for a one-time payment of $75,000 today. (Ted just turned 25.) At what rate of interest would Ted be in different between accepting the company's offer and investing the premium on his own? A) 2.4% I B) 5.5% C) 6.1% D) 6.7% E) 7.2% 10 Caanny puts $35 000 into a bank account earning 4%. You can't withdraw the money until the balance hes doubled. How long will you have to leave the money in the account? A) B) 16 y eers 17 years 18 years 19 years 20 years D) E)
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