Question: please show me how to do this im just trying to get a better understanding of how to solve these kinda of problem 1. Assume
1. Assume 10 years from now you would like to purchase a lake house for $200,000 in cash. You presently have $45,000 to invest. What annual rate of interest must you earn on your investment to reach your goal? 2. At 6%, how long does it take you to double your money? Quadruple it? 3. You expect to receive $52,000 in two years. When you receive it, you will invest it at 8% per year for 10 years. How much will you have in 12 years? 4. You have made a single lump-sum contribution of $2,000 in an individual retirement account. Assuming you earn 9.8% per year and you do not make any other deposits, how much will this investment be worth in 30 years? 5. An investment offers to triple your money in 24 months. What percentage rate of return are you being offered? 6. You have a goal of saving $3 million when you retire in 40 years. If you can earn an annual return of 10%, how much do you have to invest today? What about if you can earn 5%
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