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2. An increase in the length of the investment period will (6 points)

a. increase the future value of the investment.

b. increase the present value of the investment.

c. decrease the amount received at the end of the investment period.

d. increase the growth rate.

3. Three years ago we deposited $1,000 in bank F and $1,000 in bank T. Bank F pays a 2% simple interest rate, and bank T pays a 2% interest rate compounded annually. Today the balance in bank T is (7 points)

a. greater than in bank F because we reinvest the earnings on interest rate.

b. lower than in bank F because we receive a single interest rate payment.

c. the same as in Bank F because the interest rate is compounded annually.

d. lower than in bank F because we do not reinvest the earnings in interest rate.