Your sister recently received a $250,000 scholarship designed to pay for college when she turns 18. She plans on attending Harvard and completing her degree in 4 years. Expenses at Harvard will be $90,000 due at the beginning of each academic year. She shows so much potential that you decide to contribute to her savings ensure her expenses are completely covered. If you only need to deposit $7,242.43 at the end of each year until she begins college into her account which pays 5% interest, how old is your sister now? She is 6 years old. She is 13 years old. She is 14 years old. She is 15 years old. Suppose that Hoosier Farms offers an investment that will pay $10 per year forever. How much is this offer worth if you need an 8% return on your investment? $80 $8 $125 $100 What is the future value of $1,500 after 5 years if the appropriate interest rate is 6%, compounded semiannually? $2,016 $2,117 $1,915 $2,223 $1,819