Question
E.) Suppose California's population is 37.9 million people, and its population is expected to grow by 3% annually. How long will it take for the
E.)
Suppose California's population is 37.9 million people, and its population is expected to grow by 3% annually. How long will it take for the population to double? Round your answer to the nearest whole number.
F.)
Find the PV of an ordinary annuity that pays $1,000 each of the next 6 years if the interest rate is 18%. 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: $
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