3.

4.

present value	years	interest rates	future value
$181	4	?	$297
335	18	?	1080
48000	19	?	185382
40353	25	?	531618

4.

5.

present value	years	interest rates	future value
$560	?	6%	$1389
810	?	9	1,821
18400	?	11	289,715
21500	?	13	430,258

6. Calculating Interest Rates. Assume the total cost of a cost of a college education will be $320,000 when your child enters college in 18 years. You presently have $67,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child's college education?

7. Calculating the number of periods. At 7.3 percent interest, how long does it take to double your money? quadruple it?

8. Calculating interest rates. According to the Census Bureau, in January 2013, the average house price in the United States was $306,900. In Janurary 2000, the average price was $200,300. What was the annual increase in selling price?

9. Calculating the number of periods. You're trying to save to buy a new $225,000 Ferrari. YOu have $45,000 today that can be invested at your bank. The bank pays 4.8 percent annual interest on its accounts. How long will it be before you have enough to buy the car?