1.According to the Census Bureau, in October 2016, the average house price in the United States was $27,858. 8 years earlier, the average price was $22,408. What was the annual increase in the price of the average house sold?

Multiple Choice

• -2.68%

• 2.76%

• 3.31%

• 3.03%

2.You're trying to save to buy a new $140,000 Ferrari. You have $42,000 today that can be invested at your bank. The bank pays 4.5 percent annual interest on its accounts. How long will it be before you have enough to buy the car?

Multiple Choice

• 27.85 years

• 25.35 years

• 27.10 years

• 27.35 years

3.

You have just made your first $5,500 contribution to your retirement account. Assume you earn a return of 10 percent per year and make no additional contributions. a. What will your account be worth when you retire in 45 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What if you wait 10 years before contributing? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Future value b. Future value