9) We deposit $100,000 in the bank at 5% interest, compounded monthly. After 10 years,...
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9) We deposit $100,000 in the bank at 5% interest, compounded monthly. After 10 years, how much can we withdraw from the bank account?
A. $162,889
B. $164,701
C. $164,362
D. $164,866
10) Suppose you need $100,000 in 10 years. If you can earn 8% per year, how much do you have to invest today so that you have the $100,000 in 10 years?
A. $46,319
B. $45,289
C. $45,052
D. $46,030
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