What is the future value of a $900 annuity payment over five years if interest rates are 8 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
1.
What is the
2.
Using the rule of 72, approximately how many years are needed to double a $100 investment when interest rates are 8.50 percent per year? (Round your answer to 2 decimal places.)
3.
What’s the present value of a $900 annuity payment over five years if interest rates are 8 percent? (Do not round intermediate calculations and round your final answer to 2 decimal places.)
4. If the present value of an ordinary, 7-year annuity is $6,500 and interest rates are 7.5 percent, what’s the present value of the same annuity due? (Round your answer to 2 decimal places.)
5. What is the present value of a $360 payment in one year when the discount rate is 9 percent? (Round your answer to 2 decimal places.)
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