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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

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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 $100 after 3 years if it earns 8%, annual compounding? 2. What's the present value of $100 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 7.2% 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%

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