QUESTION 7 Assume you plan to buy a condo 5 years from now and you need to save for a down payment. You plan to save $3,000 per year, with the first payment being made immediately and deposited in a bank that pays 5%. How much will you have after 5 years? QUESTION 8 You pay $1,000 for an investment that returns 51,100 in one year. What is your annual rate of return? O A. $100 B. 110% O C. 10% D. 59