In the table below, match each word problem setup with the formula required and the variable to solve for. In these situations, only one formula is required for each. Word Problem Formula Variable You are awarded a structured settlement and want to know how long it will take to grow to a given value. Select an answer ? You are paying off a car loan and want to know how long it will take before the balance is zero. Select an answer You informally loan money to a friend and want to know how long it will take to grow to a given value. Select an answer ? You are awarded a structured settlement and want to know how much Select an answer the regular deposit amounts are so achieve a known future value. You are drawing monthly out of your retirement savings and want to know what the balance or principal amount. Select an answer ? Formula options annuity FV simple interest annuity PV Compound interest variable options PV r PMT