What is the future value of $3,018 invested for 8 years at 5.4 percent compounded annually? a Multiple Choice $4,596.68 $3.734.93 $7.00114 $3.72462 Thomas invests $119 in an account that pays 5 percent simple interest. How much money will Thomas have at the end of 5 years? Multiple Choice $148.75 B $15188 514465 5142.80 3 Bob bought some land costing $15,490. Today, that same land is valued at $45,017 How long has Bob owned this land if the price of land has been increasing at 4 percent per year? 00.02.20 Multiple Choice O 2938 years 1162 years 28 25 years 2720 year 4. What is the present value of $12,800 to be received 3 years from today if the discount rate is 5 percent? 8 00:02:15 Multiple Choice Print $7,680.00 O $1,609.98 $10.973.94 $1105712 5 You have just made your first $1,500 contribution to your retirement account. Assuming you earn an 8 percent rate of return and make no additional contributions. Required: (a)What will your account be worth when you retire in 45 years? 8 00:02:09 49.795.90 v (b) What will your account be worth if you wait 7 years before contributing? Prim 2,570.74