1. Suppose a State of New York bond will pay $1,000 ten years from now. If the going interest rate on these 10-year bonds is 4.4%, how much is the bond worth today?

   	a.	$773.65
   	b.	$630.62
   	c.	$806.15
   	d.	$650.12
   	e.	$812.65

1. Suppose a State of California bond will pay $1,000 eight years from now. If the going interest rate on these 8-year bonds is 4.9%, how much is the bond worth today?

   	a.	$688.84
   	b.	$600.18
   	c.	$832.06
   	d.	$682.02
   	e.	$511.51

You want to quit your job and go back to school for a law degree 4 years from now, and you plan to save $7,400 per year, beginning immediately. You will make 4 deposits in an account that pays 5.7% interest. Under these assumptions, how much will you have 4 years from today?

	a.	$36,449.93
	b.	$28,955.55
	c.	$36,109.28
	d.	$40,537.77
	e.	$34,065.36

1. Jose now has $500. How much would he have after 6 years if he leaves it invested at 6.2 % with annual compounding?

   	a.	$710.15
   	b.	$638.42
   	c.	$602.55
   	d.	$717.33
   	e.	$738.85