Please show work on each part

James and Mary Watson own a small chain of McDonald's Resturants that is valued at $2,300,000. They believe that the chain will grow in value 12% per year compounded annually for the next 5 years. If they sell the chain, the funds will be invested for 5 years at a rate of 6% compounded semiannually.They expect inflation to be 4% per year for the next 5 years. Ignore taxes and answer the following. Round answers to the nearest dollar.

(a) Find the future value of the chain after 5 years. Then find the price they should sell the chain for if they wish to have the same future value at the end of 5 years.

(b) Find the future value of the chain if it only grows at 2% per year for 5 years. Then find the price they should ask for the chain given a 2% growth rate per year.

(c) What future value would the chain be worth if it grew at their epected rate of inflation? Find the price they should ask for the chain if it grows at the rate of inflation.

(d) Complete table

Growth Rate Future Value Value Today

2% ___________ __________

4%(inflation) ___________ ___________

12% ____________ ____________