# Business &Finance

**Question 1 pts**

**Calculating Future Values 1**

Given the following information, find the Future Value Interest Factor (FVIF).

Do not round intermediate calculations.

Round your answer to the nearest ten thousandth (4 digits past the decimal).

Years = 13

Interest = 12

Present Value = 59960

**Question 2 pts**

**Calculating Future Values 2**

Given the following information, find the Future Value.

Do not round intermediate calculations.

Round your answer to the nearest penny.

Years = 6

Interest = 8

Present Value = 71506

**Question 3 pts**

**Calculating Future Values 3**

Your coin collection contains fifty 1952 silver dollars.

If your grandparents purchased them for their face value when they were new, how much will your collection be worth when you retire in 2069, assuming they appreciate at a 15 percent annual rate?

Do not round intermediate calculations.

Round your answer to the nearest penny.

**Question 1 pts**

**Calculating Present Values 1**

Given the following information, find the Present Value Interest Factor (PVIF).

Do not round intermediate calculations.

Round your answer to the nearest ten thousandth (4 digits past the decimal).

Years = 10

Interest = 12

Future Value = 405158

**Question 2 pts**

**Calculating Present Values 2**

Given the following information, find the Present Value.

Do not round intermediate calculations.

Round your answer to the nearest penny.

Years = 12

Interest = 11

Future Value = 294659

**Question 3 pts**

**Calculating Present Values 3**

You have just received notification that you have won the $1 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday, 80 years from now.

What is the present value of your windfall if the appropriate discount rate is 5.4 percent?

Do not round intermediate calculations.

Round your answer to the nearest penny.

**Calculating Interest Rates 1**

Given the following information, find the Interest Rate.

Do not round intermediate calculations.

Enter your answer as a percentage.

Round your answer to the nearest hundredth of a percent.

Years = 14

Present Value = 102891

Future Value = 215239

**Question 2 pts**

**Calculating Interest Rates 2**

Assume the total cost of a college education will be $207599 when your child enters college in 11 years. You presently have $27111 to invest.

What annual rate of interest must you earn on your investment to cover the cost of your child’s college education?

Do not round intermediate calculations.

Enter your answer as a percentage.

Round your answer to the nearest hundredth of a percent.

**Question 3 pts**

**Calculating the Number of Periods 1**

Given the following information, find the Number of Periods.

Do not round intermediate calculations.

Round your answer to the nearest tenth of a period.

Interest Rate = 15

Present Value = 100219

Future Value = 264680

**Question 4 pts**

**Calculating the Number of Periods 2**

At 14.5 percent interest, how long does it take to quadruple your money?

Do not round intermediate calculations.

Round your answer to the nearest tenth of a period.