You need $76,000 in 11 years. If you can earn .43 percent per month, how much will you have to deposit today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

2 Solve for the unknown interest rate in each of the following: (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

Present Value				Years			Interest Rate				Future Value
	$	775			6				%			$	1,501
		965			7								1,838
		21,000			18								147,832
		76,300			21								324,815

For each of the following, compute the future value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Present Value				Years			Interest Rate				Future Value
	$	2,600			7			17	%			$
		9,553			20			9
		100,305			14			10
		238,382			30			4

Although appealing to more refined tastes, art as a collectible has not always performed so profitably. Assume that in 2015, an auction house sold a statute at auction for a price of $10,710,500. Unfortunately for the previous owner, he had purchased it in 2010 at a price of $12,738,500. What was his annual rate of return on this sculpture? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Rate of return %

Solve for the unknown number of years in each of the following: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Present Value				Years			Interest Rate				Future Value
	$	650						12	%			$	1,505
		2,341						10					4,100
		33,605						15					391,120
		33,300						22					210,308

Assume the total cost of a college education will be $375,000 when your child enters college in 17 years. You presently have $61,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of your childs college education? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Annual rate %

You have just made your first $4,500 contribution to your individual retirement account. Assume you earn an annual return 11.15 percent and make no additional contributions. What will your account be worth when you retire in 42 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Account value $ What if you wait 10 years before contributing? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Account value $

Imprudential, Inc., has an unfunded pension liability of $755 million that must be paid in 25 years. To assess the value of the firms stock, financial analysts want to discount this liability back to the present. If the relevant discount rate is 8 percent, what is the present value of this liability? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Present value $

For each of the following, compute the present value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Present Value		Years			Interest Rate				Future Value
$			10			6	%			$	17,928
			2			11					42,117
			14			14					796,382
			19			13					653,816