5. You plan to deposit $500 into a bank account now (year 0),
$300 in year 2, and $1000 in year 4. How much money will be in your
account in year 7, if the annual interest rate is 5%?
a. 2,345
b. 2,244
c. 2,175
d. 2,500
6. If the interest rate is 6.5%, calculate the present value of
$5000 paid annually over the next 25 years
a. 69,899
b. 65,798
c. 60,898
d. 60,989