1. You invest $230 in a mutual fund today that pays 6.50 percent interest annually. How long will it take to double your money?

2. Michael Jones has $2,300 to invest. His brother approached him with an investment opportunity that could double his money in 5 years. What interest rate would the investment have to yield in order for Michaels brother to deliver on his promise?

These are 3 different questions. Please answer, thankyou!

Dorothy Taylor, a lottery winner, will receive the following payments over the next seven years. She has been approached by an investor who will pay Dorothy a lump sum today for the rights to those future cash flows. If she can invest her cash flows in a fund that will earn 11.3 percent annually, how much should Dorothy require the investor to pay for the cash flows? (Round answer to 2 decimal places, e.g. 15.25. Do not round factor values.) 1 2 3 4 5 6 7 Year $347,000 $397,000 $422,000 $447,000 $497,000 $547,000 $697,000 Present value of investment ta $