# B 4762 39 a year ago you deposited 30000 into a

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B.\$47.6239.A year ago, you deposited \$30,000 into a retirement savings account at a fixed rate of 5.5 percent. Today, you could earn a fixed rate of 6.5 percent on a similar type account. However, your rate is fixed and cannot be adjusted. How much less could you have deposited last year if you could have earned a fixed rate of 6.5 percent and still have the same amount as you currently will when you retire 38 years from today?E.\$9,234.97 less40.When you retire 35 years from now, you want to have \$1.2 million. You think you can earn an average of 9 percent on your investments. To meet your goal, you are trying to decide whether to deposit a lump sum today, or to wait and deposit a lump sum 5 years from today. How much more will you have to deposit as a lump sum if you wait for 5 years before making the deposit?D.\$31,662.0841.Theo needs \$40,000 as a down payment for a house six years from now. He earns 2.5 percent on his savings. Theo can either deposit one lump sum today for this purpose or he can wait a year and deposit a lump sum. How much additional money must he deposit if he waits for one year rather than making the deposit today?C.\$862.3042.One year ago, you invested \$1,800. Today it is worth \$1,924.62. What rate of interest did you earn?D.6.92 percent43.According to the Rule of 72, you can do which one of the following?C.Double your money in 5 years at 14.4 percent interest.
44.Sixty years ago, your mother invested \$4,500. Today, that investment is worth \$430,065.11. What is the average annual rate of return sheearned on this investment?C.7.90 percent45.Four years ago, Seegee invested \$500. Three years ago, Trek invested \$600. Today, these two investments are each worth \$800. Assume each account continues to earn its respective rate of return. Which one of the following statements is correct concerning these investments?B.One year ago, Seegee's investment was worth less than Trek’s investment.46.Towne Station is saving money to build a new loading platform. Three years ago, they set aside \$23,000 for this purpose. Today, that account is worth \$31,406. What rate of interest is Towne Station earning on this investment?C.10.94 percent47.Ten years ago, Jackson Supply set aside \$130,000 in case of a financial emergency. Today, that account has increased in value to \$330,592. What rate of interest is the firm earning on this money?B.9.78 percent48.Twelve years ago, your parents set aside \$8,000 to help fund your college education. Today, that fund is valued at \$23,902. What rate of interest is being earned on this account?D.9.55 percent49.Some time ago, Tracie purchased 11 acres of land costing \$77,900. Today, that land is valued at \$54,800. How long has she owned this land if the price of the land has been decreasing by 3.5 percent per year?C.9.87 years50.On your ninth birthday, you received \$300 which you invested at 4.5 percent interest, compounded annually. Your investment is now worth \$756. How old are you today?