problem1: find out the interest rate implied (approx.), where PV=1000, n=5, FV=1436.
[A] 7.5%
[B] 9.2%
[C] 5.6%
[D] 6.2%
problem2: find out the interest rate implied (approx.), where PV=1000, n=11, FV=1750.
[A] 7.5%
[B] 9.2%
[C] 5.2%
[D] 3.7%
problem3: How long (approx.) will it take for $500 to grow to $1,000 at 8 percent per year?
[A] 6
[B] 7
[C] 8
[D] 9
problem4. How long (approx.) will it take for $500 to grow to $700 at 5 percent per year?
[A] 6.9
[B] 10.9
[C] 11.7
[D] 13.2
problem5: A famous quarterback just signed a 10 million dollar contract providing 1 million dollar a year for ten years. The first payment is after one year. The interest rate is 10 percent. The quarterback's contract present value is approximately?
[A] 5.2 million
[B] 6.1
[C] 6.8
[D] 8.9