1. Bob needs to invest $5318 today in order for his savings to be worth $8000 in 6 years. Which term refers to $5318?
A. Future value
B. Compound value
C. Complex value
D. Present value
E. factor value
2. You have $500 today and want to triple your money in 6 years. What interest rate must you earn if the interest is compounded annually?
A. 22.15%
B. 18.08
C. 19.90
D. 20.09
E. 21.21