1. Schwanda has $5,000 in her investment account today. She saves $400 a quarter (at the end of the quarter) and earns 8.00 percent interest, compounded quarterly. How much money will she have in her account five years from now?

2. A generous benefactor invested money in a scholarship fund five years ago at an interest rate of 10.00 percent. Every year, the fund awards $100,000 in scholarships to worthy college students. How much did this benefactor deposit into the account initially? Assume all interest is paid out annually but the principal amount remains untouched.

3. A generous benefactor invested $500,000 in a scholarship fund ten years ago. Every year, the fund awards $25,000 in scholarships to worthy college students. Assume all interest is paid out annually but the principal amount remains untouched.

What is the average annual rate of return earned on the scholarship fund?