1. A family spends $28,000 a year for living expenses. If price increase by 4% a year for the next 3 years, what amount will the family need for their living expenses after 3 years?

2. You would like to have $1000 5 years from now and believe you can earn 6% on your money. How much would you have to deposit today to reach your $1000 goal?

3. How much would you need to deposit in order to take out $500 a year for 10 years from an account earning 8% interest?