Compound interest calculations may include:

1. Future value of a single amount.
2. Present value of a single amount.
3. Future value of an annuity.
4. All of the above.

2. The formula for the future value of a single amount is:

1. FV = p x (1 + i)
2. FV = p/(1 +i)ⁿ
3. FV = p x (1 + i)ⁿ
4. FV = p xi

3. Which would you prefer if you just won the lottery for $1 million?

1. The $1 million in a lump sum today
2. $100,000 per year over the next 12 years assuming a 5% interest rate
3. $100,000 per year over the next 12 years assuming a 15% interest rate
4. None of the above

4. What is an annuity?

1. The future value of a single amount
2. The present value of a single amount
3. A series of payments of equal amounts
4. All of the above