1.How much would an investor have to set aside today in order to have $20,000 five years from now if the current

1.How much would an investor have to set aside today in order to have $20,000 five years from now if the current

rate is 15 percent? 

2.If we deposit $5,000 today in an account paying 10 percent, how long does it take to grow to $10,000?

3.Assume the total cost of a college education will be $50,000 when your child enters college in 12 years. You have $5,000 to invest today. What rate of interest must you earn on your investment to cover the cost of your child's education?