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Answer Question 5 (5 points) You have $15,000 that you would like to invest for the next 22 years. Your other option is to invest
Answer Question 5 (5 points) You have $15,000 that you would like to invest for the next 22 years. Your other option is to invest the money at 6.00% interest, compounded annually. How much money will you have at the end of the 22 years? Your Answer: Answer Question 6 (5 points) 7 years from now, you plan to buy a house for $300,000. The down payment is 10% of the house value ($30,000). If you can earn 2.00% interest, compounded annually, on your savings, how much do you need to deposit today to have $30,000 in 7 years? Your Answer: Answer Question 7 (5 points) Currently, you have $20,500 that you would like to grow to $94,500 within the next 5 years. Assuming interest rate compounds annually, what annual rate of return do you have to earn? (Round your answer to the nearest hundredth; two decimal places) Your
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