1. You own a classic car that is currently valued at $64,000. If the value increases by 2.5 percent annually, how much will the car be worth 15 years from now?
A. $94,035.00
B. $86,008.17
C. $80,013.38
D. $92,691.08
E. $91,480.18
2. Marie needs $26,000 as a down payment for a house 4 years from now. She earns 5.25 percent on her savings. Marie can either deposit one lump sum today for this purpose or she can wait a year and deposit a lump sum. How much additional money must Marie deposit if she waits for one year rather than making the deposit today?
A. $878.98
B. $911.13
C. $1,112.36
D. $1,348.03
E. $1,420.18