What is the present value of $$164,000$ to be received in $13$ years from today. Assume a per

annum discount rate of $12\%,$ compounded annually. $($Round to nearest penny, e$.$g$.1234\mathrm{.}56)$

Answer:Mickey & Minnie have $$48$ million in cash. Before they retire, they want the $$48$ million to

grow to $$98$ million. How many years before Mickey & Minnie can retire if they earn $9\mathrm{.}5\%$ per

annum on their stash of cash? Assume annual compounding. $($Enter your answer in years to $2$

decimal places, e$.$g$.,12\mathrm{.}34)$