Joe invested $50,000 over the past 5 years with an investment earning an average of 9%. What will he have for retirement (FV)?

Sue invested $65,000 over the past 8 years with an investment earning an average of 8%. What will she have for retirement (FV)?

Jill needs to have $35,000 for her sons education in the next 18 years; she plans to invest in mutual funds with a rate of return of 10% per year. How much must she invest today to meet her goal (PV)?

John needs to have $20,000 for his sons education in the next 7 years; he plans to invest in mutual funds with a rate of return of 7% per year. How much must he invest today to meet his goal (PV)?

Calculate the payback method: Assume the investment is $33,000

Investment A

Year 1 10,000

2 10,000

3 10,000

4 10,000