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Using the compound interest formula given in class: FV=PVV(1+r)t Solve for the following 5 FV's: 1) PV=$6,000,r=6%,t=12 years 2) PV=$10,000,r=10%,t=7 years 3) PV=$5,000,r=4%,t=30 years 4) PV=$20,000,r=8%,t=9 years 5) PV=$30,000,r=5%,t=14 years This assignment should take a few minutes total, if you are comfortable with the equation. If not comfortable, make sure you can get the same answer as the following sample problem: Sample) PV=$2,000,r=3%,t=20 years Answer: 2000(1.03$20=$3,612.22