1. What is the future value of a five-year ordinary annuity with annual payments of $300, evaluated at a 7 percent interest rate?
A. $1,725.22
B. $1,184.91
C. $1,595.25
D. $1,348.48
E. $2,252.76
What is the present value of a $150 lump sum to be received in six years if the opportunity cost rate is 10 percent?
A. $62.09
B. $65.61
C. $84.67
D. $85.69
E. $78.42
You buy a seven-year, 6 percent savings certificate for $1,000. If interest is compounded annually, what will its value be at maturity?
A. $1,567.43
B. $1,486.87
C. $1,601.03
D. $1,503.62
E. $1,466.33