Question: Using Financial Formulas for each pls. Show steps also. 1. Suppose Bill invests $1,000 for 6 years at 8% interest rate. How much would Bill

Using Financial Formulas for each pls.

Show steps also.

1. Suppose Bill invests $1,000 for 6 years at 8% interest rate. How much would Bill have?

2. You want to purchase a new car, and you are willing to pay $25,000. If you can invest at 12% per year and you currently have $18,000, how long will it be before you have enough money to pay cash for the car? (Please keep two decimal places.)

3. Suppose Daniel is offered an investment that will allow him to triple his money in 8 years. He has $10,000 to invest. What is the implied rate of interest? (Please keep two decimal places.)

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