Hi! Please answer all questions and I will give a good like! Thank you. Please round to two decimal places.

Question 1.

If you deposit money today in an account that pays 15% annual interest, how long will it take to double your money? Round your answer to two decimal places. ___________ Years

Future value If you deposit $8,000 in a bank account that pays 5% interest annually, how much would be in your account after 5 years? Round your answer to the nearest cent. $___________

Question 2

Part A (Future value of an annuity. Find the future values of these ordinary annuities. Compounding occurs once a year. Round your answers to the nearest cent.)

$700 per year for 2 years at 14%. $___________

$350 per year for 1 year at 7%. $____________

$600 per year for 6 years at 0%. $____________

Part B (Rework previous parts assuming that they are annuities due. Round your answers to the nearest cent.)

$700 per year for 2 years at 14%. $__________

$350 per year for 1 year at 7%. $__________

$600 per year for 6 years at 0%. $__________

Question 3 Present and future values for different periods .Find the following values using the equations and then a financial calculator. Compounding/discounting occurs annually. Round your answers to the nearest cent.

An initial $800 compounded for 1 year at 5%. $_________

An initial $800 compounded for 2 years at 5%. $_________

The present value of $800 due in 1 year at a discount rate of 5%. $_________

The present value of $800 due in 2 years at a discount rate of 5%. $_________