Investing and Interest:
At an interest rate of 13 percent annually, how long will it take for a $1,000 to double? To triple? (Round your answers to 2 decimal places.)
If you owe $37,000 payable at the end of five years, what amount should your creditor accept in payment immediately if the interest rate on the loan is 14 percent? (Enter your answer as a positive number rounded to 2 decimal places.)
You have decided to start saving money for your future. What is the future value of a 14-year annuity of $2,200 per year, assuming that you make your first payment today and the interest rate is 12 percent? (Enter your answer as a positive number rounded to 2 decimal places.)
You need to have $24,256 available at the end of 8 years. How much to do you have invest each year, starting at the end of this year, for 8 years to achieve this goal? (Enter your answer as a positive number rounded to 2 decimal places.)