Question: 1. (Future value) Sales of a new finance book were 15,000 copies this year and were expected to increase by 20 percent per year. What are expected sales during each of the next 3 years? Graph this sales trend and explain.
2. (Future value) Giancarlo Stanton hit 37 home runs in 2014. If his home-run output grew at a rate of 12 percent per year, what would it have been over the following 5 years?
3. (Solving for r in compound interest) If you were offered $1,079.50 ten years from now in return for an investment of $500 currently, what annual rate of interest would you earn if you took the offer?