You have applied for a job with a local bank. As part of its evaluation process, you must take an examination of the time value of money analysis covering the following questions. Please show your work. (Identify N, I/Y, PV, PMT, and FV) 1. What's the future value of $500 after 3 years if it earns 8%, annual compounding? 2. What's the present value of $500 to be received in 3 years if the interest rate is 8%, annual compounding? 3. What annual interest rate would cause $1,000 to grow to $2,000 in 8 years? 4. If a company's sales are growing at a rate of 10% annually, how long will it take sales to double?. 5. What is the present value of a 6-year, $100 ordinary annuity if the annual interest rate is 4%? 6. What is the EAR corresponding to a nominal rate of 8% compounded semiannually? Compounded quarterly? Compounded daily? 7. Your client is 40 years old, and she wants to begin saving for retirement, with the first payment to come one year from now. She can save $5,000 per year, and you advise her to invest it in the stock market, which you expect to provide an average return of 9% in the future. If she follows your advice, how much money will she have at 65? 8. You have $60,000 to put as a down payment on a new house that cost $480,000, and you have been quoted the following terms: 5% Annual Percentage Rate (APR), for 30 years. If you decide to purchase this home. what will your monthly payment be? Additionally, over the life of the loan what would your total interest expense be? When finished, make sure to click Submit Optionally, click Save as Draft to save changes and continue working later, or click Cancel to quit without saving changes. Can JA W MacBook Air 000 000 TO 59