1.JohnBogut just received a signing bonus of $902,900. His plan is to invest this payment in a fund that will earn9%, compounded annually.

If Bogut plans to establish the AB Foundation once the fund grows to $2,768,111, how many years until he can establish the foundation?

2.ChrisBogut just received a signing bonus of $1,086,900. His plan is to invest this payment in a fund that will earn9%, compounded annually.

If Bogut plans to establish the AB Foundation once the fund grows to $1,986,897, how many years until he can establish the foundation?

3.CoronadoCo. accepts a note receivable from a customer in exchange for some damaged inventory. The note requires the customer make semiannual installments of $60,900each for 10 years. The first installment begins six months from the date the customer took delivery of the damaged inventory.Coronado's management estimates that the fair value of the damaged inventory is $758,949.

What interest rate isCoronadoimplicitly charging the customer? Express the rate as an annual rate but assume semiannual compounding.(Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 7%.)

4.$51,270receivable at the end of each period for9periods compounded at12%.(Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

5.GeorgeFinley wishes to become a millionaire. His money market fund has a balance of $81,846and has a guaranteed interest rate of10%. How many years mustGeorgeleave that balance in the fund in order to get his desired $1,073,000?(Round answer to 0 decimal places, e.g. 45.)