I don't know how to do part B, and I would like to know about the formlas

do you have any similar exercise can give me to practice

because few day later, I have to exam finance

thanks you so much

1. ( 8 marks) Time Value of Money a. How much is a lump sum of $2,000 to be paid in four years worth today if interest rate is 5% ? (4 marks) PV=1.0542,000=1,645.405 b. Suppose you deposit $1,000 today in an account that pays an 8% annual rate. How many years will it take the account balance to grow to $1,500 if interest is compounded quarterly? (4 marks) $1(1+0.02)n=$1.5n=log(1.02)log(1.5)=0.00860.1761=20.475325.119years