Principles of Finance (FIN 3213) Time Value of Money Homework #8 due Tuesday 9/21 @ 2:00 0 p.m. Refer to the following table. For each case (A through D), calculate the ANNUAL interest necessary for the present amount (PV) to compound to the future amount (FV). Be SURE to state your answer in ANNUAL terms. 1 Case A B C D E present amount $18,000 $600 $3,500 $1,000 $150,000 future amount $30,000 $3,000 $10,000 $15,000 $210,000 years 5 20 10 40 12 compounding annual semiannual quarterly monthly semiannual 2. Refer to the following table. For each case (A through D) calculate the NUMBER OF YEARS necessary for the present amount (PV) to compound to the future amount (FV) with the given interest rate and compounding. Be SURE to state your answer as YEARS. Case present amount future amount rale per year compounding $15,000 $30,000 5 annual $6,000 $13,000 12 semiannual $3,500 $10,000 10 quarterly D $1,000 $15,000 12 monthly E $125,000 $190,000 8 quarterly B