answer all three questions. show full work 1. How many years...
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answer all three questions. show full work 
1. How many years would it take for $500 to grow to $700 if you earned an interest rate of 2% ? 2. You just purchased a fair value perpetuity for $100,000 that will begin making payments in one year. The interest rate is 7.5%. What annual payments will you receive forever? 3. A financial asset pays one dollar in a year with the payment growing by 5% in each subsequent year. For example, in Year 2, you will receive $1.05, in Year 3 , you will receive $1.1025, etc. Your interest rate is 7%. What is the present value of this financial asset
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