1. If you want to have $1,000,000 when you retire and you put $100,000 in your retirement account right now, and you can get an interest rate of 12% a year, how many years will it take you to achieve your goal

2. Suppose you deposit $1,000 a year at the end of the year for 10 years. You earn 5.8% interest per year. What is the future value of this annuity?

3. Sammy decides to set up a retirement fund. He deposits $5,000 a year. He earns an annual interest rate of 6%. How much will Sammy have in his retirement fund in 20 years?

4. You have a chance to buy an annuity that pays $2,500 at the end of each year for 3 years. You could earn 5.5% on your money in other investments with equal risk (i.e., the interest rate is 5.5%). What is the most you should pay for the annuity?