1) Parker has a rare sculpture that is supposed to be worth \$10,000...

Question

# 1) Parker has a rare sculpture that is supposed to be worth \$10,000...

1) Parker has a rare sculpture that is supposed to be worth \$10,000 sometime in the future. Parker was just offered \$4,500 for the sculpture today (PV). Based on an interest rate (discount rate) of 11.5% per year, how many years would Parker have had to wait to get the \$10,000 value in the future?

2) Jack has an investment that he hopes will be worth \$1,500. Jack invested a total of \$150 in the investment today. The investment is earning 9.75% annually. How long will it take (in years) until Jack has his \$1,500?

3) Brandon has \$3,800 that he wants to invest today to grow into \$16,000. He finds an investment that earns 9.5% with monthly compounds. How many months will he wait till he has the \$16,000?

4) A PV of \$100,000 will become a FV of \$200,000. Assuming a rate of return of 10% per year, how long (NPER) will this take?

5) Colton has \$3,000 that he wants to invest today to grow into \$21,000. He finds an investment that earns 7.5% with monthly compounds. How many months will he wait till he has the \$21,000?

6) A FV of \$1,000,000 is worth a PV of \$50,000 today. Assuming a rate of return of 12.5% per year, with monthly compounding, how many years were involved in the calculation (NPER) of the PV?

7) Josie has some old artwork that she hopes to sell for \$15,600 in the future (FV). She was just offered \$6,000 for all of the artwork (PV). At a discount rate of 7% with quarterly compounding, how many years would Josie have to wait if she wanted to sell for the \$15,600?

8) Erik has a famous painting that he hopes to sell for \$24,000 in the future (FV). He was just offered \$19,000 for the painting. At a discount rate of 6.5% with quarterly compounding, how many years would Erik have to wait if he wanted to sell for the \$24,000?

9) A FV of \$600,000 is worth a PV of \$80,000 today. Assuming a rate of return of 8% per year, how many years were involved in the calculation (NPER) of the PV?

10) Becca has \$5,500 that she wants to invest today to grow into \$20,000. She finds an investment that earns 13.5% with monthly compounding. How many years will she wait till she has the \$20,000?

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