1. The process for converting present values into future values is called ____. This process requires knowledge of the values of three or four time-value-of-money variables. Which of the following is not one of these variables?
2. Olivia deposited $1,700 in a savings account at her bank. Her account will earn an annual simple interest rate of 7.8% If she makes no additional deposits or withdrawals, how much money will she have in her account in 11 years?