The following situations should be considered independently.

You want to accumulate $$62,154$ for a down payment on a small business. You will invest $$34,000$ today in a bank account paying $9\%$ interest compounded annually. Approximately how long will it take you to reach this goal?

The Jasmine Tea Company purchased merchandise from a supplier for $$31,453.$ Payment was a noninterest$-$bearing note requiring Jasmine to make six annual payments of $$6,000$ beginning one year from the date of purchase. What is the interest rate implicit in this agreement?

You borrowed $$13,000$ from a friend and promised to pay the loan in $10$ equal annual installments beginning one year from the date of the loan. Your friend would like to be reimbursed for the time value of money at a $10\%$ annual rate. What is the annual payment you must make to pay back your friend?

Note: For all requirements, Use tables, Excel, or a financial calculator. $($FV of $$1,PV$ of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

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You want to accumulate $$62,154$ for a down payment on a small business. You will invest $ paying $9\%$ interest compounded annually. Approximately how long will it take you to reach Note: Do not round intermediate calculations. Round the value of $"n"$ to the nearest whole

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