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e. Suppose California's population is 36.4 million people, and its population is expected to grow by 2% annually. How long will it take for the
e. Suppose California's population is 36.4 million people, and its population is expected to grow by 2% annually. How long will it take for the population to double? Round your answer to the nearest whole number. years f. Find the PV of an ordinary annuity that pays $1,000 each of the next 4 years if the interest rate is 14%. Then find the FV of that same annuity. Round your answers to the nearest cent. PV of ordinary annuity: $ FV of ordinary annuity: $ g. How will the PV and FV of the annuity in part f change if it is an annuity due rather than an ordinary annuity? Round your answers to the nearest cent. PV of annuity due: $ FV of annuity due: $ h. What will the FV and the PV for parts a and c be if the interest rate is 12% with semiannual compounding rather than 12% with annual compounding? Round your answers to the nearest cent. FV with semiannual compounding: $ PV with semiannual compounding: $ i. Find the annual payments for an ordinary annuity and an annuity due for 8 years with a PV of $1,000 and an interest rate of 10%. Round your answers to the nearest cent. Annual payment for ordinary annuity: $ Annual payment for annuity due: $ j. Find the PV and the FV of an investment that following end-of-year payments. The interest rate is 10%. Year Payment $100 1 2 $200 $300 3 Round your answers to the nearest cent. PV of investment: $ FV of investment: $
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