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1. Your parents just gave you a gift of $4,000. You are investing this money for 7 years at 3 percent interest. How much money will you have at the end of the 7 years?

   		$5,107.30
   		$4,319.49
   		$5,816.42
   		$4,919.50

10 points

QUESTION 3

1. Your friend claims to have invested $5,000 ten years ago and has seen that investment grow to $12,000 today. For this to be true, what rate of return did your friend have to earn?

   		9.15 percent
   		14.35 percent
   		16.21 percent
   		11.17 percent