After graduating in May, you received $5,000 as a graduation gift. How many years would it take for you to double your money in the stock market assuming an 8% interest rate? O 7 years 9 years 06 years 8 years True or false: When interpreting time value of money problems, the frequency of my payments, whether annually or monthly, will affect my input for interest rate or the "I" function of the TVM calculator. True False Question 19 (1 point) True or false: You use the present value or "PV" function whenever you are computing calculations that involve annuities. True False All of this TVM stuff has gotten you excited about all the cool stuff you can do with your calculator. Just for fun, you want to know what interest rate you will need to meet your $3,000 savings goal over the next 5 years. You do not have anything saved, but you are expecting to make a contribution of $400 each year towards your goal. What is your interest rate? 18.79% 22.56% 19.83% 20.40% You want a one million dollar nest egg when you retire. At present, you have $30,000 saved and would like to retire in 20 years. To reach your goal, you have arbitrarily chosen to set aside $300 a month towards your goal. If you stay on track with your current plan, assuming an average annual return of 6%, how much will you have saved by retirement? $1,000,000.00 O $4,144,534.10 $237,918.40 O $107,249.74