1. A local Dunkin Donuts franchise must buy a new piece of equipment in 4 years that will cost $93,000. The company is setting up a sinking fund to finance the purchase. What will the quarterly deposit be if the fund earns 16% interest? (Use Table 13.3.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

2. Al Vincent has decided to retire to Arizona in 10 years. What amount should Al invest today so that he will be able to withdraw $27,000 at the end of each year for 15 years after he retires? Assume he can invest the money at 8% interest compounded annually. (Use the Table 13.2 and Table 12.3.) (Do not round intermediate calculations. Round your answer to the nearest cent.)

3. Victor French made deposits of $4,100 at the end of each quarter to Book Bank, which pays 8% interest compounded quarterly. After 4 years, Victor made no more deposits. What will be the balance in the account 3 years after the last deposit? (Use the Table and Table 12.1.) (Do not round intermediate calculations. Round your answer to the nearest cent.)