1-You have just been notified that you will receive $7,800 a year for the next 20 years from an inherited trust. If the interest rate is 13 percent, how much should you be willing to accept today in exchange for the annual payments? (Enter your answer as a positive number rounded to 2 decimal places.)

2-Sherwin Williams will earn $21,250 a year for the next 16 years for a picture he has painted. At an interest rate of 6 percent, how much are the earnings worth today? (Enter your answer as a positive number rounded to 2 decimal places.)

3-

You just won the $38 million lottery. You will receive $1.1 million a year for the next 25 years plus an additional payment of $10.5 million at the end of 25 years. The interest rate is 12 percent.

How much is your lottery prize worth today? (Enter your answer as a positive number rounded to 2 decimal places.)

At an interest rate of 16 percent annually, how long will it take for a $1,000 to double? To triple? (Round your answers to 2 decimal places.)