Home 1OLA X Keaan M x McZe x Oberlog Dash X oads/Ch%209 % 20Xtr.9%620Pts % 20Quiz.pdf 1. Your college has agreed to give you a $10,000 tuition loan. As part of the agreement you must repay $12,600 at the end of the three-year period. What interest rate is the college charging? A) 8% B) 9% C) 11% D) 6 % 2. Tom Vu deposited $5,000 in a savings account that paid 8% interest compounded quarterly. What is the effective rate of interest? A) 8.00 % B) 8.24% C) 8.33% D) 8.46 % 3. Daniel deposits $2,000 per year at the end of the year for the next 15 years into an IRA account that currently pays 7 %. How much will Daniel have on deposit at the end of the 15 years? A) $39,981 B) $46,753 C) $49,002 D) $50,258 4. Anders was given a gold coin originally purchased for $1 by his great-grandfather 50 years ago. Today the coin is worth $450. The rate of return realized on the sale of this coin is approximately equal to A) 8% B) 13 % C) 50% D) cannot be determined with the given information e a hp