Present value What is the present value of a security that will pay $20,000 in 20 years if securities of equal risk pay 12% annually? Round your answer to the nearest cent. Time for a lump sum to double How long will it take $500 to double if it earns the following rates? Compounding occurs once a year. Round each answer to two decimal places. a. 3% year(s) b. 9% year(s) c. 21%. year(s) d. 100%. year(s) Time for a lump sum to double If you deposit money today in an account that pays 14.5% annual interest, how long will i take to double your money? Round your answer to two decimal places. years Time to reach a financial goal You have $65,148.17 in a brokerage account, and you plan to deposit an additional $4,000 at the end of every future year until your account totals $290,000. You expect to earn 10% annually on the account. How many years will it take to reach your goal? Round your answer to two decimal places at the end of the calculations. years Effective rate of interest Find the interest rates earned on each of the following. Round each answer to two decimal places. a. You borrow $700 and promise to pay back $756 at the end of 1 year. b. You lend $700 and the borrower promises to pay you $756 at the end of 1 year. c. You borrow $82,000 and promise to pay back $392,407 at the end of 9 years. % d. You borrow $9,000 and promise to make payments of $2,684.80 at the end of each year for 5 years