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1: 2: 3: 4: You're trying to save to buy a new $245,000 Ferrari. You have $42,000 today that can be invested at your bank.
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You're trying to save to buy a new $245,000 Ferrari. You have $42,000 today that can be invested at your bank. The bank pays 4.9 percent annual interest on its accounts. Required: How long will it be before you have enough to buy the car? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) 4 Length of time years Imprudential, Inc., has an unfunded pension liability of $760 million that must be paid in 25 years. To assess the value of the firm's stock, financial analysts want to discount this liability back to the present. Required: If the relevant discount rate is 8 percent, what is the present value of this liability? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Round your answer to 2 decimal places (e.g., 32.16).) Present value In 1902, the first U.S. Open Golf Championship was held. The winner's prize money was $320. In 2012, the winner's check was $1,620,000. Requirement 1: What was the annual percentage increase in the winner's check over this period? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) Annual percentage % Requirement 2: If the winner's prize increases at the same rate, what will it be in 2051? (Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Prize money In 2012, an Action Comics No. 1, featuring the first appearance of Superman, was sold at auction for $1,730,000. The comic book was originally sold in 1941 for $.06. Required: For this to have been true, what was the annual increase in the value of the comic book? (Round your answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) Annual increase % 2:
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