Finance: FVN= PV(1+I)N=$1(1+0.050)3.0=$1.16 1. What is the future value of $1 in Period 4 when the interest rate is 5%? $1.00 $1.16 $1.22 $1.63 2. If the interest rate were 10%, how many periods would it take for the future value to be worth $1.95? 3 periods 5 periods 6 periods 7 periods 3. Consider the future value of $1 in 10 periods when the interest rate is 5%. When the interest rate doubles to 10%, the future value: Increases but by less than double Exactly doubles Increases by more than double Cannot be determined.