What is the amount a person would have to deposit today (present value) at 13 percent interest rate to have $10500 saved 18 years from now.

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

**(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)**

**Question 5** (1 point)

What is the amount you would have to deposit today to be able to take out $1670 a year for 8 years from an account earning 8 percent.

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

**(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)**

**Question 6** (1 point)

If you desire to have $57100 for a down payment for a house in 8 years, what amount would you need to deposit today? Assume that your money will earn 6 percent.

Use the appropriate Time Value of Money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D]

**(Round your answer to the nearest whole number. Do not include the comma, period, and “$” sign in your response.)**

**Question 7** (1 point)

Pete Morton is planning to go to graduate school in a program of study that will take 3 years. Pete wants to have $14900 available each year for various school and living expenses. If he earns 8 percent on his money, how much must be deposit at the start of his studies to be able to withdraw $14900 a year for 3 years?

**Question 8** (1 point)

Carla Lopez deposits $7180 a year into her retirement account. If these funds have an average earning of 3 percent over the 6 years until her retirement, what will be the value of her retirement account?

**Question 9** (1 point)

If a person spends $28 a week on coffee (52 weeks in a year), what would be the future value of that amount over 11years if the funds were deposited in an account earning 7 percent?

#### Chapter 1 LO 1.3

**Question 10** (1 point)

A financial company that advertises on television will pay you $65,000 now for annual payments of $9,400 that you are expected to receive for a legal settlement over the next 8 years. Assume you estimate the time value of money at 10 percent.

Use the appropriate time value of money table [Exhibit 1-A, Exhibit 1-B, Exhibit 1-C, OR Exhibit 1-D].

(a) What is the present value?

**(Round your answer to the nearest whole number. Omit the comma, period, and “$” sign in your response.)**