Question: Using Financial Formulas for each pls. Show steps also. 1) Your parents set up a trust fund for you 10 years ago that is now

Using Financial Formulas for each pls.

Show steps also.

1) Your parents set up a trust fund for you 10 years ago that is now worth $250,000. If the fund earned 7.3% per year, how much did your parents invest?

2) Tom wants to begin saving for his daughters college education and he estimates that she will need $200,000 in 17 years. If Tom feels confident that he can earn 5.5% per year, how much does Tom need to invest today?

3) Suppose Nancy needs $15,000 in two years for the down payment on a new car. If Nancy can earn 7% annually, how much does she need to invest today?

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