Question $11$

$0\mathrm{.}5$ pts

You plan to invest in securities that pay $8\mathrm{.}0\%,$ compounded annually. If you invest $$5,000$ today, how many years will it take for your investment to grow to $$9,140\mathrm{.}20?$

$7\mathrm{.}84$

$6\mathrm{.}35$

$4\mathrm{.}15$

$5\mathrm{.}71$

Question $12$

$0\mathrm{.}5$ pts

You have a chance to buy an annuity that pays $$5,000$ at the beginning of each year for $5$ years. You could earn $4\mathrm{.}5\%$ on your money in other investments with equal risk. What is the most you should pay for the annuity?

$$ $$20,701$

$$ $$21,950$

$$ $$24,085$

$$ $$22,938$

Question $13$

$0\mathrm{.}5$ pts

You want to buy a new sports car $3$ years from now, and you plan to save $$4,200$ at the end of each year. You will deposit your savings in an account that pays $5\mathrm{.}2\%$ interest. How much will you have just after you make the $3$rd deposit, $3$ years from now?

$$11,973$

$$13,267$

$$14,626$

$$12,603$