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For each of the following situations involving single amounts, solve for the unknown. Assume that interest is compounded annually. ( i = interest rate, and

For each of the following situations involving single amounts, solve for the unknown. Assume that interest is compounded annually. (i = interest rate, and n = number of years)

Present Value Future Value i n

1. ? $56,000 7% 7

2. $18,919 $70,000 ? 17

3. $11,294 $44,000 12% ?

4. $50,743 $140,000 ? 15

5. $12,140 ? 7% 8

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