Question: 3. For a 12-year mutual fund: a. What will a $5,000 investment become if the interest rate is 7% ? b. With the 7% interest

3. For a 12-year mutual fund: a. What will a $5,000 investment become if the interest rate is 7% ? b. With the 7% interest rate, what is the investment amount if the future value is $35,000 ? c. What is the interest rate for holding $7,500 for 6 years to grow to $30,000 ? d. How long should the investment be held if P=$8,000,F=$15,000, and i=12% annually? Hint. This is the second half of module 6. You can either start with F=P(1+i)n to derive the answer, or use the formula to get the value directly

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