If you deposit money today in an account that pays 4.5% annual interest, how long will it take to double your money? Round your answer to two decimal places. years rou have $21,072.44 in a brokerage account, and you plan to deposit an additional $6,000 at the end of every future jear until your account totals $210,000. You expect to earn 11% annually on the account. How many years will it ake to reach your goal? Round your answer to the nearest whole number: years A dollar in hand today is worth a dollar to be received in the future because if you had it now you could invest that dollar and interest. Of all the techniques used in finance, none is more important than the concept of time value of money (TVM), also called analysis. Time value analysis has many applications including retirement planning, stock and bond valuation, loan amortization, and capital budgeting analysis. Time value of money uses the concept of compound interest rather than simple interest. f you deposit $5,000 in a bank account that pays 6% interest annually, how much will be in your account after 5 years? Do not round intermediate calculations. Round your answer to the nearest cent. What is the present value of a security that will pay $34,000 in 20 years if securities of equal risk pay 3% annually? Do not round intermediate calculations. Round your answer to the nearest cent. Your parents will retire in 20 years. They currently have $320,000 saved, and they think they will need $1,050,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places