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1. What is the future value of a five-year ordinary annuity with annual payments of...

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Finance

1. What is the future value of a five-year ordinary annuity with annual payments of $300, evaluated at a 7 percent interest rate?

A. $1,725.22

B. $1,184.91

C. $1,595.25

D. $1,348.48

E. $2,252.76

What is the present value of a $150 lump sum to be received in six years if the opportunity cost rate is 10 percent?

A. $62.09

B. $65.61

C. $84.67

D. $85.69

E. $78.42

You buy a seven-year, 6 percent savings certificate for $1,000. If interest is compounded annually, what will its value be at maturity?

A. $1,567.43

B. $1,486.87

C. $1,601.03

D. $1,503.62

E. $1,466.33

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