1.) First City Bank pays 9 percent simple interest on its savings account balances, whereas Second City Bank pays 9 percent interest compounded annually. If you made a deposit of $7,500 in each bank, how much more money would you earn from your Second City Bank account at the end of eight years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

2.) Youre trying to save to buy a new $245,000 Ferrari. You have $50,000 today that can be invested at your bank. The bank pays 4.3 percent annual interest on its accounts. How long will it be before you have enough to buy the car? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

3.) You have just received notification that you have won the $2 million first prize in the Centennial Lottery. However, the prize will be awarded on your 100th birthday (assuming youre around to collect), 80 years from now. What is the present value of your windfall if the appropriate discount rate is 8.4 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

4.) In 1895, the first U.S. Open Golf Championship was held. The winners prize money was $150. In 2016, the winners check was $1,800,000.

If the winners prize increases at the same rate, what will it be in 2040? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)