What is the present value of a security that will pay 32000


a. If you deposited $9000 into a bank account that pays 12% interest annually, how much will be in your account after 5 years? Round your answer to the nearest cent.

b. What is the present value of a security that will pay $32000 in 20 years if securities of equal risk pay 4% annually? Round your answer to the nearest cent.

c. Your parents will retire in 18 years. They currently have $360,000 saved, and they think they will need abot $2,2000,000 at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.

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Financial Management: What is the present value of a security that will pay 32000
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