How much would $1, growing at 4% per year, be worth after 25 years?

	a.	$12.54
	b.	$10.67
	c.	$8.86
	d.	$2.67
	e.	$1.25

If we are given a periodic interest rate, say a monthly rate, we can find the nominal annual rate by multiplying the periodic rate by the number of periods per year.

True

False

Jose now has $500. How much would he have after 6 years if he leaves it invested at 5.5% with annual compounding?

	a.	$622.20
	b.	$654.95
	c.	$723.89
	d.	$591.09
	e.	$689.42