9. What's the future value of $1,500 after 5 years if the appropriate interest rate is 6%, compounded monthly?*

a) $1,618.62

b) $1,699.55

c) $1,873.76

d) $2,023.27

e) None of the above

10. What's the present value of $4,500 discounted back 4 years if the appropriate interest rate is 5%, compounded semiannually?*

a) $3,089

b) $3,251

c) $3,422

d) $3,693

e) None of the above