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QUESTION $5$

You want to accumulate an account balance of $$100,000$ in $20$ years by making a single deposit today. If you can earn a $7\mathrm{.}5\%$ annual rate of return and plan to make no other

deposits or withdrawals, how large does your deposit need to be$?$

FORMATTING: Enter your answer as a positive number. Round to the nearest cent.

QUESTION $6$

You open an account today with a single deposit of $$10,000.$ For the account balance to grow to $$40,000$ in $10$ years, what annual rate of return is required? Assume no other

deposits or withdrawals are made.

FORMATTING: Enter $"6\mathrm{.}78"$ for $6\mathrm{.}78\%.$ Round your answer to two decimal places.

QUESTION $7$

You opened an account with a single deposit of $$10,0007$ years ago. As of today, your account balance has doubled without having made any other deposits or withdrawals. If the

account's annual rate of return increases by $2\%,$ how long will it take $($in years$)$ for the account balance to double again?

FORMATTING: Round your answer to two decimal places

QUESTION $8$

You want to fund an expense of $$25,000$ due in $5$ years by making a single deposit today. You make a deposit today such that if the account earns a $5\%$ annual rate of return, you will

have exactly enough in your account to fund the expense. If your account actually earns a $3\mathrm{.}75\%$ annual rate of return, what will your account balance be in $5$ years?

FORMATTING: Enter your answer as a positive number. Round to the nearest cent.