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1. First, from the formula for future value (FV), algebraically derive the solution forcalculating the number of periods (t) for a given set of FV, PV and r. (Hint: aderivation cannot be plagiarized). Second, pick a PV and pick a FV (here FVcannot be double the PV) and calculate the time necessary for the amount chosenfor PV to equal the amount chosen for FV. Make sure that you succinctly explainwhat you are doing.
1. First, from the formula for future value (FV), algebraically derive the solution forcalculating the number of periods (t) for a given set of FV, PV and r. (Hint: aderivation cannot be plagiarized). Second, pick a PV and pick a FV (here FVcannot be double the PV) and calculate the time necessary for the amount chosenfor PV to equal the amount chosen for FV. Make sure that you succinctly explainwhat you are doing.