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QUESTION 15 Five years ago, you put $1,200 into your bank. Today it has grown...

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QUESTION 15 Five years ago, you put $1,200 into your bank. Today it has grown to $2,114.81. What rate of interest has your money been earning? O a 12% b. 10% O c. 6% d. 15% QUESTION 16 You plan to invest S15,000 today by buying the stock of an exciting new company. If the stock increases in value by 11% per year, how long will it take for your investment to grow to $50,000? O a. 12 years. b. 18 years. O c. 14 years. d. 16 years. QUESTION 17 An insurance company advertises an annuity that pays $10,000 at the end of each year for 20 years. In talking with the insurance salesman, you discover that the annuity is priced at an interest rate of 8%. How much would you have to pay to purchase this annuity? O a. $ 48,695.80 Ob. $ 38,371.60 O c. $ 57,466.39 d. $ 98,181.47

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