1. You currently have $15900. You plan on investing it at 7 percent per year until you have $96800. How long will you wait until you achieve this goal? Enter the answer with 2 decimals (e.g. 1.23).
2. Why might the number of shares issued be more than the number of shares outstanding?
3. Investment X offers to pay you $4500 per year for 10 years, whereas Investment Y offers to pay you $3200 per year for 8 years. How much higher is the present value investment X if the discount rate is 3 percent?