Question 24: You have the following financial information on the Deville family: a) What is the Deville family's liquidity ratio (2 points)? b) What is the Deville family's debt payment ratio (2 points)? c) What is the Deville family's savings ratio (2 points)? Question 25 (3 points): You invest $1,000 today and earn 10% interest, compounded annually. How much will you have in five years? Question 26 (3 points): Your grandfather invested $10,000 on the birth of his granddaughter to help pay for college. The money was placed in a bank account paying an APR of 3.0% with monthly compounding. How much will the granddaughter have when she goes to college in 18 years (ignoring taxes)? Question 36 (2 points): You have invested $100,000 in an account that promises a 6 percent APY. Assuming you leave the original investment and all earned interest in the account, and ignoring taxes, estimate how long will it take to double your money? Question 30 (3 points): You plan to invest $2,000 every year (end-of-year payments) from now until you retire in 30 years. If you can earn 7% annually on your invested funds, how much will you have when you retire? Question 31 (3 points): You just won a \$20 million lottery. After taxes, you can take your winnings in one of two ways: Either receiving $14 million today or $1,400,000 per year for 25 years with first payment at end of year. Assuming you think you, can earn 8% per year on your investments, compounded annually, which of these alternatives is preferable? Question 32 (4 points): You plan on taking a REALLY long vacation, planning to live by a beach for two years and surfing. You estimate you need $5,000 a month for the 24 months to pay for this vacation with payments being made at the end of the month. If you can earn 8% on your funds, how much would you have to invest at the beginning of the vacation to fund this plan? Question 33 ( 2 points): Shelly spent an average of $500 each month on groceries last year for herself and her family. She is now forecasting the family budget for next year. She read that an inflation rate of 6.0% is expected. How much should Shelly budget for the monthly grocery expense next year? Question 34 (2 points): The local credit union pays interest of 3.0\% on amounts held in its savings accounts. Because Gwen does not trust banks, she chooses not to have a savings account, and instead keeps $10,000 in cash in her home safe. What is Gwen's annual opportunity cost of keeping her money at home instead of putting it in a savings account at the credit union? Question 35 (2 points): Citibank is offering a 5 -year CD at 3.85\% APY. If you invest $10,000, how much will you have when the CD matures? Question 27 (3 points): Your company has done really well this year and you receive a surprise bonus of $60,000. As you weren't expecting the bonus, you decide to invest the bonus in stocks for your retirement. You invest the money in ETF that is expected to return 7.0% annually? If you expect to retire in 30 years, how much do you expect this investment to be worth in 30 years? Question 28 (3 points): Three years from now, you need to have $25,000 to make a down payment on a house. How much do you need to invest today if you can earn 2.5% interest, compounded annually? Question 29 (3 points): You save $250 at the end of every month from your paycheck. If you can earn 6% APR, compounded monthly, how much will you have saved in 5 years? Question 37 (2 points): Ryan has $10,000 to invest, and he wishes to double his money in 9 years to pay for a vacation to celebrate his 20th anniversary. Approximately what APY would he require to reach his goal? Question 38 (3 points): When you buy a house in the future, you estimate you need to have $50,000 to make a down payment. You have $40,000 to invest today, if you can earn an APR of 3.6\% interest, compounded monthly, how many months will you need to wait until you achieve your goal