1. (Time Value of Money) -10 points pv(), fv(), nper(), rate(), and pmt() are useful Excel functions to deal with time value of money questions, Please complete the following table using those functions. PV FV NPER RATE PMT $10,000,000 7 4.00% $0 If we expect the value of a 60,000 SF plot of land to increase at 4% per year, and we need the land to be worth $10,000,000 in 7 years, what is the MINIMUM value requirement of the land today in order for us to hit our investment target? $22.00 5 3.00% $0 If market rent today for retail properties in suburban Phoenix is $22.00/SF and we expect market rent to increase by 3% per year for the next 5 years, what will market rent be in 5 years? $800,000 $1,000,000 5.00% $0 If we invest in a condominium in Miami for $800,000 today and expect the value of the property to increase by 5% per year, how many years will it take for the property to be worth $1,000,000? $100 $300 25 $0 land in Downtown Denver was worth $100/SF 25 years ago and that same land is worth $300/SF today, what is the compound annual growth rate of land in Downtown Denver? If we invest $500,000 in a 24 unit apartment building, believe that we will make 14% annual returns investing in apartment buildings, and want to have $2,000,000 in equity in 7 years, how much money do we need to invest each year to make this happen? $500,000 $2,000,000 7 . 14.00%