1. John plans to buy a vacation home in 15 years from now and wants to have saved $95,253 for a down payment. How much money should he place today in a saving account that earns 8.89 percent per year (compounded daily) to accumulate money for his down payment? Round the answer to two decimal places

2. You have accumulated some money for your retirement. You are going to withdraw $99,576 every year at the end of the year for the next 20 years. How much money have you accumulated for your retirement? Your account pays you 14.59 percent per year, compounded annually. To answer this question, you have to find the present value of these cash flows. Round the answer to two decimal places.

3. You have been offered the opportunity to invest in a project that will pay $3,496 per year at the end of years one through three and $13,092 per year at the end of years four and five. If the appropriate discount rate is 6.5 percent per year, what is the present value of this cash flow pattern? Round the answer to two decimal places.