Description Instructions Multiple Attempts This test allows multiple attempts. Force Completion This test can be saved and resumed later, Your answers are saved automatically. Question Completion Status: QUESTION 1 You would like to receive 16 payments of $40,000 per year starting when you retire 45 years from today. You would like to have the account depleted after the last payment is made. If your discount rate is 7%, compounded annually, how much you would need to have in a bank account today in order to achieve your objective? Assume that you will not make any other future deposits. QUESTION 2 for a while. If the annaul rate of interest of the account stays the same, how much you will have in the account in two years? You put $1,000.00 in a savings account last year. Your current balance is $1,075.00 and you plan to keep your investment in the account QUESTION 3