Homework: 5-2 MyFinanceLab Assignment Save Score: 0 of 4 pts 8 of 12 (7 complete) HW Score: 52%, 26 of 50 ... P5-13 (similar to) :8 Question Help (Related to Checkpoint 5.5) (Solving for n) How many years will it take for $500 to grow to $1,059.65 if it's invested at 7 percent compounded annually? The number of years it will take for $500 to grow to $1,059.65 at 7 percent compounded annually is (Round to one decimal place.) years. Homework: 5-2 MyFinanceLab Assignment Save Score: 0 of 4 pts 9 of 12 (7 complete) HW Score: 52%, 26 of 50 ... P5-19 (similar to) : Question Help (Related to Checkpoint 5.4) (Present value) Ronen Consulting has just realized an accounting error that has resulted in an unfunded liability of $375,000 due in 30 years. In other words, they will need $375,000 in 30 years. Toni Flanders, the company's CEO, is scrambling to discount the liability to the present to assist in valuing the firm's stock. If the appropriate discount rate is 9 percent, what is the present value of the liability? nter your answer If the appropriate discount rate is 9 percent, the present value of the $375,000 liability due in 30 years is $ (Round to the nearest cent.) verower Save Homework: 5-2 MyFinanceLab Assignment Score: 0 of 4 pts 10 of 12 (7 complete) P5-20 (similar to) w Score: 52%, 26 of 50 . : Question Help 0 (Related to Checkpoint 5.6) (Solving for 1) Lance Murdock purchased a wooden statue of a Conquistador for $7,300 to put in his home office 6 years ago. Lance has recently married, and his home office is being converted into a sewing room. His new wife, who has far better taste than Lance, thinks the Conquistador is hideous and must go immediately. Lance decided to sell it on e-Bay and only received $5,100 for it, and so he took a loss on the investment. What was his rate of return, that is, the value of ? What was Lance Murdock's rate of return, that is, the value of i? Enter a negative percentage for a loss. % (Round to two decimal places.) Homework: 5-2 MyFinanceLab Save Assignment Score: 0 of 5 pts 11 of 12 (7 complete) IW Score: 52%, 26 of 50 ... P5-28 (similar to) Question Help (Related to Checkpoint 5.4) (Present-value comparison) You are offered $90,000 today or $360,000 in 11 years. Assuming that you can earn 14 percent on your money, which should you choose? If you are offered $360,000 in 11 years and you can earn 14 percent on your money, what is the present value of $360,000? $ (Round to the nearest cent.) Assignment Score: 0 of 5 pts 12 of 12 (7 complete) HW Score: 52%, 26 of 50 ... P5-37 (similar to) :3 Question Help (Related to Checkpoint 5.7) (Calculating an EAR) Your grandmother asks for your help in choosing a certificate of deposit (CD) from a bank with a one-year maturity and a fixed interest rate. The first certificate of deposit, CD #1, pays 2.45 percent APR compounded daily, while the second certificate of deposit, CD #2, pays 2.50 percent APR compounded quarterly. What is the effective annual rate (the EAR) of each CD, and which CD do you recommend to your grandmother? If the first certificate of deposit, CD #1, pays 2.45 percent APR compounded daily, the EAR for the deposit is %. (Round to two decimal places.)