Question.4402 - Ch. 7 Written AssignmentDetailsResolve the following problems (1, 3, 5, 8, 10, 12, 17, 19 from the book chapter). Show the calculations.1 . Find the future value of $100 in five years at 5% interest.3 . How much would you have to deposit now to have $15,000 in eight years if interest is 7%?5 . How many years will it take a $700 balance to grow into $900 in an account earning 5%?8 . A company’s sales were $250 million in 2019. If sales grow at 6% per year, how large will they be 10 years later, in 2029 (as expressed in millions)?10 . You spend $725.00 to purchase a $1,000 bond that will have no coupon payments and matures in 12 years. What interest rate will you be earning on this bond?12 . Vance Corporation had earnings last year of $3.25 per share. The company has experienced 8% annual growth over the last several years, and management expects that growth rate to continue. Based on this information, after how long will earnings per share double?17 . One of your professional goals is to one day earn a six-figure salary ($100,000). You hope to accomplish this objective within the next 30 years. Salaries grow at 3.75% per year in your field of work. What beginning salary will you need in order to reach this 30-year goal?19 . If Eisenberg Industries revenues have increased from $30 million to $90 million over a 10-year period, what has been their annual rate of growth?
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