1)In five years your oldest child will be in 8thgrade, at which point you and your family plan to vacation in Europe. You estimate that you will need $20,000 for the trip. How much do you need to set aside today if you can place your money in an investment vehicle earning an average of 4.50% per year?

2)Four years ago, Robert's annual salary was $52,500. Today, he earns $73,800. What has been the average annual rate of growth of Robert's salary?

3)You currently have $2,500 invested at an annual rate of 8%. How long will it take for this investment to grow to a value of $3,500?

4)Madison is taking over as Chief Marketing Officer at MidWest Graphics. She has pledged to increase sales from their current level of $12,000,000 at a rate of 10% per year until the firm hits sales of $20,000,000 per year. How long will it take Madison to hit the target goal at this rate of increase? )

5)The survey results from the National Association of Colleges and Employers (NACE) show the average annual increases in salaries for new accounting graduates to be 3.42% since the year 2000. If new starting salaries in accounting were $36,919 in 2000, what were they in 2020?