Answer the following questions. Be sure to show all your work- not just the answer. Follow this format: cite the formula, then plug in numbers, then compute to show your final answer.Be sure to solve according to the method that is requested.2. Solve using the Rule of 72: rate = 8%, years = 18, pv = $7,000. Solve for fv.3. Solve, using the Rule of 72 rate = 4%, years = 18, fv=$8,000. Solve for pv.4. Solve, using the Rule of 72: rate =6%, pv=$7,000, fv= $56,000. Solve for years.5. Solve, using the Rule of 72: pv=$10,000; fv=$160,000; years=10. Solve for rate.Q6-Q9. Use appropriate tvm table. For each question, cite the appropriate table that you are using, show the formula, and then plug-in your numbers to solve. Show all your work.Q6 pv= $7,200 rate = 7% periods = 15 Solve for fvQ7 fv=$15,000 rate = 15% periods = 10 Solve for pvQ8 payment = $6,000 interest rate =8% number of periods = 10 Solve for pvaQ9 payment = $4,000 interest rate =10% number of periods = 20 Find fvaFor Q10-Q13, you many use tvm tables, a financial calculator, or excel to solve. Be sure to
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