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Question #1: (5 points) Danny puts $2,000 per year into a savings account with a 10% interest rate compounded yearly. Danny starts on her 22nd birthday, and last deposit is on her 33rd birthday. After that, Danny leaves the money in the savings account and lets it earn interest until she is 65. Danny makes deposits over the first 12 years. Pat does not start saving until his 34th birthday. He deposits $2,000 per year into a savings account with a 10% interest rate compounded yearly. His last deposit is on his 65th birthday. Pat makes deposits over 32 years Requirement: A. Which person has more money for retirement? B. Is your answer the same if the interest rate is 3%. Explain. Question #2: (5 points) How would respond to the following comment: A debate on which life insurance or health insurance to purchase is a waste of time since the final decision depends on so many different factors. It's best to remain silent then purchase what you want when you think you want insurance because you probably do not need it. (Try to limit your answer to 250 words. No penalty if your answer is less or more than 150 words.) Question #3:(20 points) Part I: Answer the following questions for the stock game: 1. Why did you select the companies in your portfolio? 2. What kind of research did you do? 3. Did you consider recent news events when investing in this company? If yes, provide 1 example. 4. Does at least one company have a global presence or just U.S.? Explain your answer. 5. What impact do new technologies have on the companies you invested in? 6. Are there any political or regulatory or legal issues impacting these companies at the present time? If so, explain. 7. If you had more time to invest, would you continue along this path or would you do something different? (Label your answers.)