-Suppose that you invested $100 in a bank account that earned 10% APY. About how much would you have on deposit at the end of 10 years due to compound interest if you did not make any more deposits or withdraws?

Question 52 options:

A)

$200

B)

$225

C)

$110

D)

$259

E)

$1,594

-Which of the following is not an advantage of an ARM over a fixed-rate mortgage?

Question 53 options:

A)	lower initial rate

B)	more affordable in the beginning

C)	best when you will only stay in a home for two to three years

D)	may qualify for a larger loan

E)	the ARM will have constant payments for the life of the loan

-You win $150 but you cannot have it for 48 months. What is $150 to be received in four years worth today if the annual rate of the Consumer Price Index for inflation is only 3% per year?

Question 55 options:

A)

$0

B)	Less than $150

C)	$150 exactly

D)	More than $150

E)	Cannot be determined

-Tom and Jerry both bought houses at the same time and each has a $200,000 mortgage. Toms mortgage is a 30 year with a fixed rate of 4.5%. Jerrys mortgage is a 15 year with a 4.25% rate. How much more in total payments will Tom make over Jerry? Assume monthly payments in your answer.

Question 58 options:

A)	$93,787.98

B)	$270,820.80

C)	$93,992.62

D)	$103,456.90

E)	Not enough information provided

-Which of the following are included in a credit card disclosure (also called the Schumer Box) required as part of any credit card application offer?

Question 63 options:

A)	the effective annual interest rate (EAR)

B)	the grace period for making payments

C)	your personal FICO credit score

D)	annual bonuses or rewards

E)	all of the above