9. A mortgage bond is _______. *

A) secured by other securities held by the firm

B) secured by equipment owned by the firm

C) secured by property owned by the firm

D) unsecured

All of the above

10. Assume you currently have $5000 in your account. How many years will it take to make them $80,000 if the interest rate is 12%? *

A) 24.46 years

B) 45.54 years

C) 11 years

D) 22 years

None of the above

11. What annual interest must you earn to have $300,000 in 20 years if you currently have $50,000? *

A) 5.37%

B) 6.37%

C) 9.37%

D) 10.37%

None of the above

12. After graduation, you plan to work for Aspen Industries for 8 years and then start your own business. You expect to save and deposit $5,000 a year for the first 4 years and $10,000 annually for the following 4 years. The first deposit will be made a year from today. In addition, your grandfather just gave you a $32,000 graduation gift which you will deposit immediately. If the account earns 8% compounded annually, how much will you have when you start your business 8 years from now? *

A) $47,000

B) $42,000

C) $15,000

D) 134,943

None of the above