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1. A young adult expects to receive a cash gift of $9,402 from his trust fund in 9 years.

At an interest rate of 10% compounded annually, the present value of the gift is closest to: _______

2. You expect to buy a house in 9 years. At that time, you will need a down payment of $45,524. A local bank offers a savings account that pays 5% per year, compounded monthly.

The amount you would need to deposit today in order to have the $45,524 in 9 years is closest to: _______

3. An annuity investment will pay you $48,513 per year for the next 15 years with the first payment coming one year from today.

At a rate of 5%, compounded annually, the present value of the annuity is closest to: _______

4. You receive a graduation gift of $13,568 and decide to invest the money. You invest the money in shares of Facebook.

Assuming that Facebook generates an 11% return per year, the value of the investment at the end of 16 years will be closest to: ______