S5.6029 (1+9)8 9% 5. Calculate the Present Value for each of the following: (please show ALL of your work in the space provided below or on separate sheet) Present Value Years Interest Rate Future Value 8.419 s 5,075 (1+75) 7 7.5% $8,419 526,741 8.5 $55,629 2. S25.014 s107,428 (1+12)14 S525,014 1,000,044 2 $33,350 (1+14)26 26 $1,006,044 Pull+rt 6. Calculate the Number of Years for each of the following: (please show ALL of your work in the space provided below or on separate sheet) Present Value Years Interest Rate Future Value 1 14 12% 14% $400 years 8.5% $790 $2,500 years 7.5% $11,300 $31,800 9% Years $50,000 $510,569 years 19% $3,241,569 7. Based on estimates in various magazines, Adam and I are forecasting the total cost of Mikey's college education to be $225,000 when he enters college in 7 years. We presently have $85,000 to invest and would like to find an investment that can get us to our goal of $225,000. What will the annual rate of interest need to be on the investment to cover the cost of Mikwy's college education and get us to our goal of $225,000 in 7 years? (Remember if you calculate this incorrectly, my sweet little peanut might not get to go to college!!!!)