1. A) What is the value today of a money machine that will pay $2,918.00 per year for 5.00 years? Assume the first payment is made today and that there are 5.0 total payments. The interest rate is 6.00%.

B) Derek will deposit $2,851.00 per year for 10.00 years into an account that earns 13.00%. Assuming the first deposit is made 6.00 years from today, how much will be in the account 38.00 years from today?

2. Today is Dereks 25th birthday. Derek has been advised that he needs to have $3,330,600.00 in his retirement account the day he turns 65. He estimates his retirement account will pay 4.00% interest. Assume he chooses not to deposit anything today. Rather he chooses to make annual deposits into the retirement account starting on his 28.00th birthday and ending on his 65th birthday. How much must those deposits be?