Present Value Years Interest Rate Future Value $570 15 10% $8,922 9 18% $61,133 3 12% $219,850 10 4% 1. Given the above data, calculate the future value in each case. (Using the formula and also a financial calculator) Future Value Years Interest Rate Present Value $349 $5,227 $48,950 $612,511 10 20 12 7 6% 2% 12% 10% 2. Given the above data, calculate the present value in each case. (Using the formula and also a financial calculator). 3. Given the following data, solve for the interest rate in each case. (Use a financial calculator) Present Value Years Future Value Interest Rate $475 $7,350 $27,175 $93,412 4 7 11 19 $615 $18,350 $65,000 $200,000 4. Given the following data, solve for the number of years in each case. (Use a financial calculator). Years Present Value $1,200 $16,310 $75,000 $183,650 Interest rate 8% 12% 3% 9% Future Value $2,590.71 $20,459.26 $182,044.69 $308,000 5. You expect your newly born child to attend college in 18 years. You have $12,000 to set aside for that purpose. You also expect that the total cost of college education to be $100,000 by that time. Calculate the interest rate at which you have to invest today to achieve your goal. 6. How long does it take to double your money at 9 % interest rate? 7. A small firm has a pension liability of $500,000 which is due in 15 years. What is current value of the liability if the interest rate (discount rate) is 11%. 8. An investor would like to invest $5,000 today and expects to get back triple that amount in 7 years. At what rate should he/she need to invest in order to achieve the goal