QUESTION 3 What is the present value of a security that will pay $5,000 in 20 years if securities of equal risk pay 7% annually? $1,263.20 $1,639.20 $1,292.10 QUESTION 4 Your parent will retire in 18 years. They currently have $250,000, and they think they will need $1,000,000 at retirement. What nominal interest rate must they earn to reach their goal? 8% 6% 7% QUESTION 5 If you deposit money today in an account that pays 6.5% annual interest, how long will it take to double your money? 11 12- 13