Future values For the case shown in the following table, calculate the future value of the single cash flow deposited today and held until the end of the deposit period if the interest is compounded annually at the rate specified. (Click on the icon here e in order to copy the contents of the data table below into a spreadsheet.) Single cash flow $5,000 Interest rate 12% Deposit period (years) 18 The future value is $ (Round to the nearest cent.) Time Value Personal Finance Problem Misty needs to have $12,000 in 8 years to fulfill her goal of purchasing a small sailboat. She is willing to invest a lump sum today and leave the money untouched for 8 years until it grows to $12,000, but she wonders what sort of investment return she will need to earn to reach her goal. Use your calculator or spreadsheet to figure out the approximate annually compounded rate of return needed if she can invest $8,700 today. %. (Round to two decimal The annually compounded rate of return Misty needs to earn to reach her goal is places.) Present value calculation Without referring to the preprogrammed function on your financial calculator, use the basic formula for present value, along with the given discount rate, r, and the number of periods, n, to calculate the present value of $1 in the case shown in the following table. (Click on the icon here a in order to copy the contents of the data table below into a spreadsheet.) Opportunity cost, r 4% Number of periods, n 12 The present value of $1 is $ (Round to three decimal places.) Present value concept Answer each of the following questions. a. How much money would you have to invest today to accumulate $5,100 after 7 years if the rate of return on your investment is 11%? b. What is the present value of $5,100 that you will receive after 7 years if the discount rate is 11%? c. What is the most you would spend today for an investment that will pay $5,100 in 7 years if your opportunity cost is 11%? d. Compare, contrast, and discuss your findings in part a through c. a. A single investment made today, earning 11% annual interest, worth $5,100 at the end of 7 years is $ (Round to the nearest cent.)