D E F See other instructions below You receive an Inheritance of $100,000. You want to save it for your child's college education. Your child should begin college in 11 years. If you can earn 3.4% on your savings, how much will you have when your child enters college? 3.4% 11 100,000.00 How much would you have to deposit today to have a balance of $500,000 at retirement 40 years from today assuming you could earn 3.6% APR during that time? 3.6% 40 500,000.00 You win a lottery and can either receive $50,000 3 years from today (option 1), or $60,000 7 years from today (option 2). If you could earn 4.0% on savings for the next 7 years, what is the correct choice to make? How much do you gain by making the correct choice? PV option 1 PV option 2 Rate: 3 7 4.0% 50,000.00 60,000.00 gain: choice