Suppose you have $2,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 12.1% interest, compounded annually. How much will you have when the CD matures?

a. $6,204.71 b. $6,267.38 c. $6,580.75 d. $4,888.56 e. $6,518.08 50

Last year Rocco Corporation's sales were $350 million. If sales grow at 6% per year, how large (in millions) will they be 5 years later?

a. $384.07 b. $477.75 c. $473.06 d. $388.75 e. $468.38