Question: Show each step of your calculations using either appropriate formula or sequence of numbers entered and keys on TI BAII Plus calculator 1) Jack received

Show each step of your calculationsusing either appropriate formula or sequence of numbers entered and keys on TI BAII Plus calculator

1) Jack received $20,000 from his grandmother seven years ago. He invested the money and it has been earning 10 percent per year. How much money should Chris' investment be worth today?

2)You expect to receive $10,000 in 10 years. What is its present value today, discounted at 5 percent?

3)Haley owes $5,000 on a bank loan, and that it is to be repaid in a lump sum at the end of 5 years. If the lender is willing to accept $3,000 today in full settlement of the loan, what annual rate of return (discount rate) is the lender effectively offering her. (Hint: you can use the future or present value formula given in your notes to solve this problem)

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