You want to purchase a 1 year treasury bill that pays you $1,000 at maturity. If the current market rate of interest is 0.75% annually, what will you need to pay for the treasury? How much interest will you earn (in dollars) on the investment? N: FV: I/Y: PV: 2. The total cost of a college education in 18 years is estimated to be $290,000. You presently have $55,000 to invest. What annual rate of interest must you earn on your investment to cover the cost of a college education in 18 years? PV: N: FV: I/Y: 3. At 7% interest, how long does it take to double your money? PV: N: FV: I/Y: 5. In 1890 when the first U.S. Open Championship was held, the winner's prize was $150. In 2010 the winner's check was $1,350,000. At what annual rate of interest has the prize increased at? PV: N: FV: I/Y: