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Q5 D. (20 Marks) a) What is the relationship between PV and FV and how are they calculated? (10 Marks) b) You want to purchase

Q5 D. (20 Marks)

a) What is the relationship between PV and FV and how are they calculated? (10 Marks)

b) You want to purchase a new TV and you are willing to pay $2,000. If you can invest at 10% per year and you currently have $1,500, how long will it be before you have enough money to pay cash for the TV? (10 Marks)

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