Question: a. We sometimes need to find how long it will take a sum of money to grow to some specified amount. For example, if a

a. We sometimes need to find how long it will take a sum of money to grow to some specified amount. For example, if a company's sales are growing at a rate of 13.25% per year, how long will it take sales to double?

NPER =

b. If you want an investment to double in 5 years, what annual interest rate must it earn?

Rate =

c. What is the future value of $2,250 after 8 years under 13.25% annual compounding?

FV =

What is the FV with semiannual compounding?

FV =

What is the FV with quarterly compounding?

FV =

What is the FV with monthly compounding?

FV =

What is the FV with daily compounding?

FV =

d. What would the required payment be on a $20,000 loan that is to be repaid in 5 equal installments at the end of each of the next 5 years if the interest rate is 7.50%?

PMT =

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