12.) Based on a balance of $78,460.00, using the rule of 72, how long will it take for the balance to reach $313,840.00 at a rate of 3.00%.

a. 48.00 years

b. 2400.00 years

c. 24.00 years

d. 4800.00 years

13.) Marlena Gostowski is saving for retirement by putting away $11,970.00 every day for 15 years how much is this investment worth at the end of 15 years if payments begin today? Assume an interest rate of 6.00%.

a. $278,659.16

b. $106,288,872.11

c. $43,217,026.97

d. $116,274.73

14.) Roderick Isley will receive payments of $7,150.00 every six months for 6 years how much is this cashflow worth to them today? Assume a discount rate of 2.00%.

a. $80,473.80

b. $90,679.90

c. $40,050.23

d. $45,103.06

15.) Angeles Arcizo 's car value has depreciated from $270,700.00 to $168,950.00 in 12 years. With tri-annually compounding, what is the annualized rate of loss/decline (CAGR)?

a. -3.9028%

b. -15.6112%

c. 0.4394%

d. -1.2841%