1)If you deposit $12,000 in a bank account that pays 6.2% interest annually, how

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1)If you deposit $12,000 in a bank account that pays 6.2% interest annually, how much would be in your account after 5 years? Round your answer to the nearest cent.

2)What is the present value of a security that will pay $10,000 in 20 years if securities of equal risk pay 9.6% annually? Round your answer to the nearest cent.

3)Your parents will retire in 18 years. They currently have $260,000, and they think they will need $1 million at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Round your answer to two decimal places.

4)If you deposit money today in an account that pays 9.1% annual interest, how long will it take to double your money? Round your answer to the nearest whole number.

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