(Related to Checkpoint 5.2) (Future value) To what amount will $5,000 invested for 8 years at 11 percent compounded annually accumulate? $5,000 invested for 8 years at 11 percent compounded annually will accumulate to $| |. (Round to the nearest cent.) (Related to Checkpoint 5.2) (Future value) If you deposit $3,500 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years (assuming no further deposits)? In 40 years? a. If you deposit $3,500 today into an account earning an annual rate of return of 11 percent, what would your account be worth in 35 years? S (Round to the nearest cent.) (Related to Checkpoint 5.4) (Present value) Sarah Wiggum would like to make a single investment and have $2.0 million at the time of her retirement in 35 years. She has found a mutual fund that will earn 4 percent annually. How much will Sarah have to invest today? If Sarah earned an annual return of 14 percent, how soon could she then retire? a. If Sarah can earn 4 percent annually for the next 35 years, the amount of money she will have to invest today is $| |. (Round to the nearest cent.) (Related to Checkpoint 5.5) (Solving for n) How many years will it take for $500 to grow to $1,039.50 if it's invested at 5 percent compounded annually? The number of years it will take for $500 to grow to $1,039.50 at 5 percent compounded annually is years. (Round fo one decimal place.) (Related to Checkpoint 5.6) (Solving for /) At what annual interest rate, compounded annually, would $490 have to be invested for it to grow to $1,969.06 in 13 years? The annual interest rate, compounded annually, at which $490 must be invested for it to grow to $1,969.06 in 13 yearsis | |%. (Round to two decimal places.) (Related to Checkpoint 5.4) (Present value) What is the present value of $300 to be received 12 years from now discounted back to the present at 11 percent? The present value of $900 to be received 12 years from now discounted back to the present at 11 percentis | | (Round to the nearest cent.) (Related to Checkpoint 5.8) (Solving for /) Kirk Van Houten, who has been married for 23 years, would like to buy his wife an expensive diamond ring with a platinum setting on their 30-year wedding anniversary. Assume that the cost of the ring will be $10,500 in 7 years. Kirk currently has $4,572 to invest. What annual rate of return must Kirk earn on his investment to accumulate enough money to pay for the ring? The annual rate of return Kirk must eam on his investment to accumulate enough money to pay for the ring is (Round to two decimal places.) (Related to Checkpoint 5.8) (Solving for /) You are considering investing in a security that will pay you $2,000 in 28 years a. If the appropriate discount rate is 10 percent, what is the present value of this investment? b. Assume these investments sell for $482 in return for which you receive $2,000 in 28 years. What is the rate of return investors earn on this investment if they buy it for $4927 a. If the appropriate discount rate is 10 percent, the present value of this investment is 3| | (Round fo the nearest cent ) (Related to Checkpoint 5.5) (Solving for n) Jack asked Jill to marry him, and she has accepted under one condition' Jack must buy her a new $350,000 Rolls-Royce Phantom_ Jack currently has $66,290 that he may invest. He has found a mutual fund with an expected annual return of 4.5 percent in which he will place the money. How long will it take Jack to win Jill's hand in marriage? Ignore taxes and inflation The number of years it will take for Jack to win Jill's hand in marriage is years. (Round to one decimal place.)