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Your brother has asked you for a loan and has promised to pay you $9,750 at the end of three years. If you normally invest to earn 5.40 percent per year, how much will you be willing to lend to your brother if you view this purely as a financial transaction (i.e., you dont give your brother a special deal)? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.)

Amount to be invested today

$

Betty Harris is saving to buy a house in five years. She plans to put 20 percent down at that time, and she believes that she will need $26,000 for the down payment. If Betty can invest in a fund that pays 9.60 percent annual interest, compounded quarterly, how much will she have to invest today to have enough money for the down payment? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to the nearest penny.) Excel Template (Note: This template includes the problem statement as it appears in your textbook. The problem assigned to you here may have different values. When using this template, copy the problem statement from this screen for easy reference to the values youve been given here, and be sure to update any values that may have been pre-entered in the template based on the textbook version of the problem.)

Amount to be invested today

$

You invest $180 in a mutual fund today that pays 8.70 percent interest annually. How long will it take to double your money? (If you solve this problem with algebra round intermediate calculations to 6 decimal places, in all cases round your final answer to 0 decimal place, e.g. 545)

Number of years