i$.$ formula

ii$.$ PV or FV tables

iii. Financial calculator.

P$-1$ FUTURE VALUE If you deposit $$10,000$ in a bank account tat pays $10\%$ interest annually, how much will be

in your account after $5$ years?

P$-2$ PRESENT VALUE What is the present value if a security that will pay $$5,000$ in $20$ years if securities of

equal risk pay $7\%$ annually?

P$-3$ FINDING THE REQUIRED INTEREST RATE

Your parents will retire in $18$ years. They currently have $$250,000,$ and they think they will need $$1,000,000$ at

retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any

additional funds?

P$-4$ TIME FOR A LUMP SUM TO DOUBLE If you deposit money today in an account that pays $6\mathrm{.}5\%$ annual

interest, how long will it take to double your money?

P$-5$ TIME TO REACH A FINANCIAL GOAL You have $$42,180\mathrm{.}53$ in a brokerage account, and you plan to deposit

an additional $$5,000$ at the end of every future year until your account totals $$250,000.$ You expect to earn $12\%$

annually on the account. How many years will it take to reach your goal?

Need $2-5$ figured out $1$