1. Chris Hitchcock is 37 years old today and he wishes to accumulate $ 543,000 by his 58 th birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his 37 th through his 57 th birthdays. What annual deposit must Chris make if the fund will earn 8% interest compounded annually? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

2. Sally Ross has $ 21,800 to invest today at 9% to pay a debt of $ 51,608. How many years will it take her to accumulate enough to liquidate the debt? (Round answer to 0 decimal places, e.g. 45.)

3. Candice Houston has a $ 26,500 debt that she wishes to repay 6 years from today; she has $ 15,801 that she intends to invest for the 6 years. What rate of interest will she need to earn annually in order to accumulate enough to pay the debt? (Round answer to 0 decimal places, e.g. 7%.)