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AutoSave AC220 Unit4 Problems - Excel File Home Insert Page Layout Formulas Data Review View Help Calibri Paste BIU-H Font 14 - A OA - G 2 Wrap Text Merge & Center - E General $ - % Clipboard . 5 ! Alignment A2 x Number fx BA 6 01. Today, you earn a salary of $54,000. What will be your annual salary twelve years 7 from now if you earn annual raises of 3.4 percent? 8 (Hint: Find Future Value) 11 Q2. You hope to buy your dream car three years from now. Today, that car costs $63,400. 12 You expect the price to increase by an average of 3.1 percent per year over the next three 13 years. How much will your dream car cost by the time you are ready to make the purchase? 14 (Hint: Find Future Value) 16 17 Q3. Your father invested a lump sum 25 years ago at 3.15 percent interest. Today, he gave 18 you the proceeds of that investment which totalled $61,372.47. How much did your 19 father originally invest? 20 (Hint: Find Present Value) 23 04. You have just received notification that you have won the $2.5 million first prize in the 24 Georgia Lottery. However, the prize will be awarded on your 60th birthday, 45 years from 25 now. The appropriate interest rate is 5 percent. What is the present value of your 26 winnings? Unit 4 Problems Type here to search

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