3. You would like to have $185,669 in 7 years to move to take a...
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3. You would like to have $185,669 in 7 years to move to take a year off and travel. If you think you can earn 0.6% per month on your money, how much must you deposit today?
4. An investment will pay you $3,490.99 in 4 years if you pay $2,251.1 today. What is the implied rate of return? (Convert to a percent. Round to 2 decimal places.)
5. If you have $536 today and you think you can earn an interest rate of 7% per year, how many years until you have $748?
6. You are thinking about buying an NFT that your friend told you would be worth $194 in 4 years. If the interest rate is 16.33%, how much should you be willing to pay for it today? (Round to 2 decimal places.)
7. You bought a stock for $69. You think the stock will have a return of 10.29%. How much will the stock be worth in 13 years? (Round to 2 decimal places.)
8. You are buying an investment property for $398,629 today. Through research, you have determined that the value of the property is likely to grow at a rate of 7.43% per year, on average. How many years until the value of the property grows to $529,742?
9. You are looking at some real estate that the broker told you will be worth $598,144 in 8 years. If the interest rate is 12.95%, how much should you be willing to pay for it today? In other words, how much is it worth today? (Round to 2 decimal places.)
10. You would like to invest your tax refund of $681. If your required return is 11.95%, what must be the future value of your investment in 6 years? (Round to 2 decimal places.)
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