WRITE AND HIGHLIGHT YOUR ANSWERS BESIDES EACH PROBLEM. REMEMBER TO INDICATE THE ITEM (PV, FV.n, i) WITH YOUR ANSWERS. (EX. i - 9%; n-3 years: PV - $1,000; FV - $2,000) NOTE: YOU DO NOT NEED TO CONSTRUCT A TIMELINE AND WRITE DOWN THE GIVENS 1) At 8% compounded annually, how long will it take $750 to double?IPT 2) At what rate must $400 be compounded annually for it to grow to $716.40 in 10 years? IPT 3) A friend plans to buy a big-screen TV/entertainment system and can afford to set aside $1,320 toward the purchase today. If your friend can earn 5.0%, compounded yearly, how much can your friend spend in four years on the purchase?IPT 4) You just purchased a parcel of land for $10,000. If you expect a 12% annual rate of return on your investment, how much will you sell the land for in 10 years?IPT 5) If you place $50 in a savings account with an interest rate of 7% compounded annually, what will the investment be worth at the end of five years?IPT 6) Dawn Swift discovered that 20 years ago, the average tuition for one year at an Ivy League school was $4,500. Today, the average cost is $29,000. What is the growth rate in tuition cost over this 20-year period? IPT 7) A Max, Inc. deposited $2,000 in a bank account that pays 12% interest annually. What will the dollar amount be in four years, assuming that interest is paid annually? IPT 8) You bought a painting 10 years ago as an investment. You originally paid $85,000 for it. If you sold it for $484,050, what was your annual return on investment?IPT 9) Middletown, USA currently has a population of 1.5 million people. It has been one of the fastest growing cities in the nation, growing by an average of 4% per year for the last five years. If this city's population continues to grow at 4% per year, what will the population be 10 years from now?IPT 10) How many years will it take for an initial investment of S200 to grow to $544 if it is invested today at 8% compounded annually? IPT 11) If you purchased a share of Mico.com stock on March 1, 1993 for $45 and you sold the stock at S168 on February 28, 1998, what was your annual rate of return on the stock?IPT 12) Your bank has agreed to loan you $3.000 if you agree to pay a lump sum of $5,775 in five years. What annual rate of interest will you be paying?1PT 13) Earnings per share for XYZ, Inc, grew constantly from $7.99 in 1974 to $12.68 in 1980. What was the compound annual growth rate in earnings-per-share over the period?IPT 14) If you invest $450 today and it increases to 56,185 at the end of 20 years, what rate of return have you earned?IPT 15)What is the present value of $12,500 to be received 10 years from today? Assume a discount rate of 8% compounded annually. IPT 16) Stephen's grandmother deposited $100 in an investment account for him when he was born, 25 years ago. The account is now worth $1,500. What was the average rate of return on the account?1PT 17)The present value of $400 to be received at the end of 10 years, if the discount rate is 5%, is IPT 18)The present value of $1,000 to be received at the end of five years, if the discount rate is 10%, is IPT 19)What is the present value of an investment that pays $400 at the end of three years and $700 at the end of 10 years if the discount rate is 5%? 2PTS 20)Three years from now, Barbara Waters will purchase a laptop computer that will cost $2,250. Assume that Barbara can earn 6.25% (compounded annually) on her money. How much should she set aside today for the purchase? IPT 21)If you want to have $875 in 3 years, how much money must you put in a savings account today? Assume that the savings account pays 16% and it is compounded annually. IPT 22) You deposit $5,000 today in an account drawing 12% compounded annually. How much will you have in the account at the end of 2 years? IPT