Question: Solve the following questions using excel file by using the formula for the questions -13. (Solving for n ) (Related to Checkpoint 5.5 on page
Solve the following questions using excel file by using the formula for the questions
-13. (Solving for n ) (Related to Checkpoint 5.5 on page 175) How many years will the following take? a. $500 to grow to $1,039.50 if it's invested at 5 percent compounded annually b. $35 to grow to $53.87 if it's invested at 9 percent compounded annually c. $100 to grow to $298.60 if it's invested at 20 percent compounded annually d. $53 to grow to $78.76 if it's invested at 2 percent compounded annually 14. (Solving for I) (Related to Checkpoint 5.6 on page 176) At what annual interest rate would the following have to be invested? a. $500 to grow to $1,948.00 in 12 years b. $300 to grow to $422.10 in 7 years c. $50 to grow to $280.20 in 20 years d. $200 to grow to $497.60 in 5 years 15. (Calculating present value) (Related to Checkpoint 5.4 on page 173) What is the present value of the following future amounts? a. $800 to be received 10 years from now discounted back to the present at 10 percent b. $300 to be received 5 years from now discounted back to the present at 5 percent c. $1,000 to be received 8 years from now discounted back to the present at 3 percent d. $1,000 to be received 8 years from now discounted back to the present at 20 percent
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