Type the correct equations and use Excel to calculate the answers. For example, if a question asks you how much is the present value of $500 ten years from now with a discount rate of 7%.

You first have to type: PV = 500 / (1+0.07)^10

Then use the excel function =pv(0.07,10,0,500) to find the answer of $254.17.

The portions highlighted in red are the ones you have to type on your assignments.

1. If you have $10,000 today, how much will you have in 8 years at 6% interest compounded annually?

1. If you invested $50,000 10 years ago, how much will you have today if you earned 8% interest compounded annually?

1. How much would you pay today to receive $56,044 twenty years from now if your investments earn 9% compounded annually?

1. If you would like to have $20,000 in 5 years, how much should you invest today if your investment earns 12% per year and compounded annually?

1. There are two accounts. One pays simple interest and the other pays compound interest. Both accounts have the same annual interest rate of 5%. If you invest $2,100 each in both accounts, how much more total interest will you receive after 10 years in compound interest than the simple interest?

1. You deposit $3,700 in an account that pays 1% interest per quarter. How much will you have in 9 years? Hint: The number of compounding periods should be counted by quarters.

1. If you have $10,000 today, how much will you have in 8 years at 6% annual interest compounded monthly? Hint: The annual interest rate needs to be converted into a monthly rate. The number of compounding periods should be counted by months.

1. If you would like to have $20,000 in 5 years, how much should you invest today if your investment earns 12% per year and compounded monthly? Hint: The annual interest rate needs to be converted into a monthly rate. The number of compounding periods should be counted by months.