Mike Derr Company expects to earn 8% per year on an investment that will pay $606,000 eight years from now. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.) 1a. Compute the present value of this investment.

future value	?	table factor	=	present value
$606,000	x/+-		=

On January 1, Mike Derr company agrees to pay $16,000 in five years. If the annual interest rate is 8%, determine how much cash the company can borrow with this agreement. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)

1b.

future value	?	table factor	=	amount borrowed
	x/+-		=

Mike Derr expects to invest $18,000 at 9% and, at the end of a certain period, receive $65,565. How many years will it be before Mike receives the payment? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)

1c.

future value		present value		table factor	years
	x/+-		=