In your first year out of college you hope to earn $60,000 per year. How many years will you have to work until you earn $120,000 if your income increases at a rate of 10% per year? Use the Rule of 72 to determine your answer. You would need to work for just over 6 years to reach an income level of $100,000 per year. You would need to work for just over 8 years to reach an income level of $100,000 per year. You would need to work for just over 5 years to reach an income level of $100,000 per year. You would need to work for just over 7 years to reach an income level of $100,000 per year. QUESTION 8 A two-year investment of $200 is made today at an annual interest rate of 6%. Which of the following statements is true? The interest earned in year two is $12.00 and year one is $12.72. The interest earned in year one is $12.00 and year two is $12.72. The future value would be greater if the interest rate were lower. The FV is $224.00. QUESTION9 Consider the TVM equation: Present values and interest rates are inversely related True False