Problem Set - Chapter 5 Solve for the unknown number of years in each of the following (Do not round Intermediate calculations and round your answers to 2 decimal places, e... 32.16.) Years Interest Rate points Future Value 101 Present Value 6101 800 18,900 2.200 275.672 22.000 321,293 Print References Assume the total cost of a college education will be $200,000 when your child enters college in 16 years. You presently have $55,000 to invest. points What annual rate of interest must you earn on your investment to cover the cost of your child's college education? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Annual rate of interest Hint Print You're trying to save to buy a new $206,000 Ferrari. You have $56,000 today that can be invested at your bank. The bank pays 6.4 percent annual interest on its accounts How long will it be before you have enough to buy the car? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) ints Number of years Print