A. The amount you must deposit now in your savings account paying 5% interest, in order to accumulate $3,000 for your first tuition payment when you start college in 3 years is A) $2,670.00. B) $2,591.52. C) $2,518.86. D) $2,657.88 B. Suppose you have a winning lottery ticket and you are given the option of accepting $1,000,000 three years from now or taking the present value of the $1,000,000 now. The sponsor of the prize uses a 5% discount rate. If you elect to receive the present value of the prize now, the amount you will receive is A) $863,840. B) $839,620 C) $890,000 D) $1,000,000 C. If the single amount of $800 is to be received in 2 years and discounted at 11%, its present value is A) $727.28. B) $649.30. C) $720.72 D) $661.16. D. If you are able to earn a 6% rate of return, what amount would you need to invest to have $2,000 one year from now? A) $1,849.78. B) $1,886.80. C) $1,790.00. D) $1,904.76. E. If $15,000 is deposited in a savings account at the end of each year and the account pays interest of 5% compounded annually, what will be the balance of the account at the end of 10 years? A) $22,204. B) $157,500 C) $188,668 D) $207,000