1. Solve for future value of each of the following

Present Value $ Years Interest Rate % Future Value $

460 12 2.5

12,750 3 1.25

143,300 7.5 4.5

2.solve for the interest rate in each of the following

Present Value $ Years Interest Rate % Future Value $

140 7 550

14,750 15 42,000

145,000 16 2,540,762

210,100 25 2,000,550

3. How much would you have to invest today at 7% compounded annually to have $65,000 available for the purchase of a car five years from now?

4. How much would $5,000 due to be paid in fifty years time be worth today if the discount rate is 7.5%?

5. You have $375,000 invested at 7.5% and now you want to retire. You want to withdraw $35,000 at the end of each year, beginning at the end of this year. How many years will it take to exhaust your fund and run it down to $0?

6. Lakeland Corporation earned $0.50 per share ten year ago. This year its earnings per share were $2.20. What was the growth rate in Lakeland's earnings per share over the ten year period?