7. FUTURE VALUE FOR VARIOUS COMPOUNDING PERIODS Find the amount to which 5500 will grow under each of these conditions 12% compounded annually for 5 years 12% compounded semiannually for 5 years 12% compounded quarterly for 5 years 8 TIME FOR A LUMP SUM TO DOUBLE How long will it take $300 to double if it was the following rates? Compounding B12% Now.do a reasonableness.checklestimate using the Rule 72 on each of these Using the RULE of 72. ABOUT how long will it take $300 to double fit earns the following res? Compending ons once a year. 4_6% R 12% 9. FINDING THE REQUIRED INTEREST RATE Your parents will retire in 19 years. They currently have $350,000 saved, and they think they will need $800,000 at retirement What annual interest rate must they earn to reach their goal, assuming they don't save any additional funda? AMORTIZATION SCHEDULE FOR AS NOTE ON PPE A firm takes out a 5-year low to finance the expansion of its office space for plant in Decatur, AL The company horrows $200,000 for 5 years at a rate of interest. Complete the amortization schedule for those five years (start with the interesat 8% on the $200,000 for year one and amartine through year five you should end up were for the ending balance) What is the interest pad in year 37 What is the principal payment in year 2? Year Begin Payment Interest Repey Principal Fad