Howie's great-great grandfather placed the lump sum of $100 in a bank exactly 85 years ago that will be paid to him today (on his 21 ^st birthday). The bank paid interest in each of the previous 85 years at the rate of 2% compounded monthly. What amount comes closest to the amount Howie will receive?

		$16,195
		$547
		$1,277
		$2,980
		$6,949

1. Which of the following comes closest to the present value of receiving the lump sum of $100 in 4 years if the interest rate is 2%?

   		$92.38
   		$88.85
   		$85.48
   		$82.27
   		$79.21

John has $100 in his bank account, and needs that amount to grow to $110. If the bank pays an interest rate of 1%, approximately how long will it take?

		2.43 Years
		6.67 Years
		9.58 Years
		4.81 Years
		3.22 Years