1. How long will it take $10,000 to reach $50,000 if it earns 10% interest compounded semi-annually?
a) 17 years
b) 33 years
c) 26 years
d) 8.5 years
2. The discount rate can best be described as;
a) present value interest factor
b) the rate applied to future value cash flows
c) prime rate of interest
d) real rate of interest