4. This morning, you purchased a rare coin for $42,600. The coin has been appreciating in value at an annual rate of 6.9 percent and is expected to continue doing so. How long will it be until the coin is worth $100,000? 5. You are planning a trip around the world that is scheduled to begin 4 years from now. The estimated cost is $68,000. How much do you have to deposit today in one lump sum to fully fund this trip if you can earn 4.2 percent per year on your investment? 6. Triple Town Bank pays 3.8 percent simple interest on its savings accounts. Doubleton Bank pays 3.5 percent interest, compounded annually on its savings accounts. Sixteen years ago, Jake invested $2,000 in each bank. What is the difference, if any, in his account balances today? 7. According to the Rule of 72, what rate of interest must you earn to double your money in 5 years? 8. Which one of the following relationships is correct, all else held constant? a. The future value and the present value are inversely related. b. The future value increases as the interest rate decreases. c. The present value is directly related to the time period. d. The interest rate and the time period are inversely related.