1. a rich uncle dies and leaves you $10,000. if you invest in this sum at 11% compounded annually, how much will you have in 10 years?

2. your dream is to buy a florida vacation home on the coast. if you are able to save $2,000 each year for the next 5 years and invest that money at 10% compounded annually, how much will you have as a down payment toward your dream home?

3. a long time family friend owns a small business. this friend has promised to sell you his business for $75,000 when he retires in 8 years. assuming that you can earn 7% on your money, how much will you need to save each year for the ext 8 years to have $75,000 when your friend retires?