Question: Exercise 5-7 (Algo) Solving for unknowns; single amounts [LO5-4] For each of the following situations involving single amounts, solve for the unknown. Assume that

Exercise 5-7 (Algo) Solving for unknowns; single amounts [LO5-4] For each of the following situations involving single amounts, solve for the unknown. Assume that interest is compounded annually. (i = interest rate, and n = number of years) Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Present Value Future Value n 1. $ 51,008 $ 62,000 5% 4 2. $ 28,644 $ 76,000 20 3. $ 11,758 $ 45,500 7% 4. $ 68,822 $ 155,000 12 5. $ 13,796 8% 10

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