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Unformatted text preview: 6. How many years would it take $1,000 to grow to $5,000 assuming an annual interest rate of 8%? 7. At what interest rate would $1,000 grow to $5,600 in 20 years? 8. At what approximate discount rate would $10,000 received in 12 years be worth $5,000 today? 9. For how many years would you need to receive $1,000 (each year) to be worth $10,000 today assuming a 5% discount rate? 10. If you place $10 into a savings account and you know it will earn 12% per year, what is the future value after 4 years? 1. $56.74 2. $7606. 3. $20,000 4. $530.66 5. $31,772.50 6. ~21 years 7. 9% 8. 6% 9 . 1415 years 10. $15.74...
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This note was uploaded on 03/08/2011 for the course TAP 2344 taught by Professor Bruno during the Spring '11 term at FIU.
 Spring '11
 Bruno

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