1. Sales of a new finance book were 15,000 copies this year and were expected to increase by 20 percent per year. What a

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1. Sales of a new finance book were 15,000 copies this year andwere expected to increase by 20 percent per year. What are expectedsales during each of the next three years? Graph this sales trendand explain.
2. What is the present value of an investment that yields $500to be received in 5 years? The discount rate is 4%.
3. What is the present value of an investment that yields $1000to be received in 10 years if the discount rate is 4%?4. What is the present value of an investment that yields $500 in 5years and $1000 in 10 years if the discount rate is 4%? (Hint seethe answers to 2 and 3 above andthink about the possible solution)5. What is the present value of $500 to be received 10 years fromnow if our discount rate is 6%?6. How many years will it take for an initial investment of $300 togrow to $774 if it is invested at 9 percent?7. How long will it take $300 to grow to $600 at 9%?