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1. What is the effective annual rate of interest on a deposit that pays interest of 10% continuously compounded?

A) 10.517% B) 1.105% C) 9.531% D) 10.000%

2. Eighteen years from now, 4 years of college are expected to cost $150,000. How much more must be deposited into an account today to fund this expense if you can earn only 8% on your savings rather than the 11% you hope to earn?

A) $12,211.18 B) $14,006.41 C) $13,609.21 D) $14,614.03

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92835768

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