If an investor intends to double $ 25,000 by investing in a bank that pays 7% interest per year, determine the time it would take to double the investment. If you save money from the age of 20 and save $ 4 daily and, at the end of the year, all the savings you invest in a mutual fund account that has a 7% annual return, determine the balance of the account when you reach the 62 years. Suppose the Land River Company decides to purchase a housing complex in 6 years and estimates that it can save $ 15,000 per year. The company deposits the money at the end of the year in World Central Bank at 5% interest. Calculate the balance after 6 years and calculate the account balance if the rate decreased to 4%. The family attorney notified you that you are the sole heir to your lost uncle's legacy. You have two options to receive the inheritance: receive $ 500,000 at the end of each of the next 10 years or receive a one-time payment of $ 2,500,000. Determine which is the best option. Calculate the Present Value of an ordinary Annuity (PVA) that includes 12 payments of $ 200 and an interest rate of 9%.