1. Find the present amount needed to attain a future amount of F dollars in the given time using an annual simple interest rate of r.

F = $7200, r = 4.7%, 2 years

$______

2. A principal earns 8% per year simple interest. How long will it take for the future value to quadruple? (Round your answer to two decimal places.) _____ years

3. A principal of $5000 earns 5.5% per year simple interest. How long will it take for the future value to become $6155? (Round your answer to two decimal places.) _____ years