Present and future values for different interest rates

Find the following values. Compounding/discounting occurs annually. Round your answers to the nearest cent.

An initial $500 compounded for 10 years at 7%.

$

An initial $500 compounded for 10 years at 14%.

$

The present value of $500 due in 10 year at a discount rate of 7%.

$

The present value of $2,845 due in 10 years at 14%.

$

The present value of $2,845 due in 10 years at 7%.

$

Growth rates

Shalit Corporation's 2011 sales were $7 million. Its 2006 sales were $3.5 million.

At what rate have sales been growing? Round your answer to two decimal places.

%

Effective rate of interest

Find the interest rates earned on each of the following. Round each answer to two decimal places.

You borrow $650 and promise to pay back $728 at the end of 1 year.

%

You lend $650 and the borrower promises to pay you $728 at the end of 1 year.

%

You borrow $65,000 and promise to pay back $120,311 at the end of 8 years.

%

You borrow $16,000 and promise to make payments of $5,001.00 at the end of each year for 5 years.

%