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1. You have just made your first $5,000 contribution to your retirement account. Assuming you earn a rate of return of 5 percent and make no additional contributions, what will your account be worth when you retire in 35 years? What if you wait for 5 years before contributing?

A. $26,335.37; $23,011.60

B. $27,311.20; $29,803.04

C. $27,311.20; $22,614.08

D. $27,580.08; $21,609.71

E. $31,241.90; $32,614.08

2. E-Z Loans is offering a special on one-year loans. The company will loan you $1,500 today with no waiting and no credit check, in exchange for one payment of $2,000 one year from now. What is the APR on this loan?

A. 30.63 percent

B. 21.20 percent

C. 25.63 percent

D. 17.93 percent

E. 33.33 percent

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92306829

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