Question
23)At a growth (interest) rate of 6 percent annually, how long will it take for a sum to double? To triple? UseAppendix A for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)
Time needed to double years Time needed to triple
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Question
22)How much would you have to invest today to receive: Use Appendix B or Appendix D for an approximate answer, but calculate your final answer using the formula and financial calculator methods.
a.$13,600 in 11 years at 8 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Present value$ b.$17,500 in 17 years at 13 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Present value$ c.$7,000 each year for 20 years at 8 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Present value$ d.$47,000 each year for 50 years at 17 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Present value$
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Question
20)Your uncle offers you a choice of $111,000 in 10 years or $50,000 today. Use Appendix B as an approximate answer, but calculate your final answer using the formula and financial calculator methods.
a-1.If money is discounted at 9 percent, what is the present value of the $111,000? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Present value$
a-2.Which offer should you choose? $111,000 after 10 years$50,000 today
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Question
19)If you invest $15,500 today, how much will you have: Use Appendix A as an approximate answer, but calculate your final answer using the formula and financial calculator methods. a.In 8 years at 7 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Future value$ b.In 19 years at 10 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Future value$ c.In 20 years at 12 percent? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Future value$ d.In 25 years at 12 percent (compounded semiannually)? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Future value$
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