QUESTION 7 Suppose you have $1,325 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures? a. $1,573.68 b. $1,463.53 c. $1,557.95 d. $1,841.21 e. $1,731.05 QUESTION 8 What is the PV of an ordinary annuity with 10 payments of $7,900 if the appropriate interest rate is 5.5%? a. $59,547.24 b. $47,637.80 c. $48,233.27 d. $55,378.94 e. $57,760.83