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Incorrect Question 7 0 / 1 pts Which one of the followings is not a characteristic of future value? It is the value of a future asset at a present date based on an assumed rate of growth. External factors, such as inflation, interest rates, economic growth, can affect the future value of the asset. Knowing the future value enables people to make appropriate decisions based on their anticipated needs. It is widely used to estimate how much a current asset will be worth in the future. Incorrect Question 10 0 / 1 pts You invest $5,000 today in a retirement account that pays 8 percent interest compounded semi-annually. What is the total balance in the account ten years from today? $10,795 $10,887 $10,956 $11,237 Incorrect Question 12 0 / 1 pts After consulting with your financial advisor, you figured that you need to invest $15,000 per year to accumulate enough money for your retirement. Assuming a rate of return of 8% and depositing $15,000 at the beginning of every year in your retirement account, how much will you have after 35 years? $2,584,752 $221,780 0 $2,791,532 0 $1,780,441 Incorrect Question 13 0 / 1 pts After consulting with your financial advisor, you figured that you need to invest $1,000 per month to accumulate enough money for your children's college education in the 529 college savings account. Assuming a rate of return of 12% and depositing $1,000 at the beginning of every month in your retirement account for 15 years, how much will you have in the account? $1,054,780 $504,576 $457,663 $556,129