1. You invest $50,000 at 6% per year. How many years (t) do you have to wait until it grows to $80,000? Find the correct equation to find t.
A. 50(1.06)t = 80
B. 50/(1.06)t = 80
C. t.ln(80/50) = ln(1.06)
D. t.ln(1.06) = ln(50/80)
2. If you can earn a 10% annual return, how much do you have to invest today in order to have $1,000,000 forty (40) years from now?
A. $29,004
B. $27,777
C. $22,727
D. $22,095