Question 1 10 out of 10 points Exactly 11 years ago, you deposited $2440 into an account and promptly forgot about it. Today, you find the original confirmation letter while cleaning out your desk and decide to check your balance. After being put on hold for an hour with customer service and resetting your password twice, you find that your account has grown to $6116! What is your annual rate of return over the last 11 years? Submit your answer as a percentage and round to two decimal places (Ex. 0.00%). Selected Answer: & 8.71 Correct Answer: ¢ 8.71 +£0.02 (%) Response Feedback: = ((FV/PV)*(1/n))-1 Question 2 10 out of 10 points The same underlying formula is used for computing both the future value and present value. Selected Answer: ¢ True Answers: & True False Question 3 10 out of 10 points The time value of money is the opportunity cost of passing up the earning potential of a dollar today. Selected Answer: ¢ True Answers: & True False Question 4 10 out of 10 points Which of the following options will give you the greatest future value? Selected Answer: $400 that you invest for three years at a 6% annual rate Answers: $300 that you invest for eight years at a 3% annual rate $350 that you invest for five years at a 4% annual rate V) $400 that you invest for three years at a 6% annual rate $450 that you invest for one year at a 5% annual rate
