Question 6 3 pts Future value = $11,000; Interest rate = 8%; Number of years (annual compounding) = 5. Calculate the present value. O 7,486.00 O 8,923.00 O 6,678.00 O 3,456.00 Question 7 3 pts How long will you need to wait until the value of a $1,000 investment doubles, if it earning 10.5% interest per year? O No solution. Error. O 5.46 years O 7.88 years 06.94 years Question 8 3 pts What rate of interest would be required to enable an investment of $10,000 to reach a total value of $100,000 over a 20 year period? O 12.2% O No solution. Error. O 10.6% O 13.4% Question 9 3 pts What rate of interest would be required to enable an investment of $20,000 to reach a total value of $100,000 over a 20 year period? O 13.45% O 8.38% O 12.67% O No solution. Error. Question 10 3 pts What interest rate would you need to earn in order to become a deca-millionaire (worth $10,000,000) if you invested $1,000,000 today and wanted to be worth the total of ten million dollars in 15 years? 0 16.59% O 14.56% O 22.83% O No solution. Error