1. Suppose you would like to have $25,000 saved 6 years from now to pay towards your down payment on a new house. If you are going to make equal annual end- of-year payments to an investment account that pays 7 per cent, how big do these annual payments need to be? 2. What is the present value of an annuity of $27 received at the beginning of each year for the next six years? The first payment will be received today, and the discount rate is 10%. 3. Red Sea Co. obtained a $100,000 loan from ANB bank at 10% annual interest rate that will be paid off in annual payments over five years. How much will each annual payment be? 4. As a result of winning the Gates Energy Innovation award, you are awarded a growing perpetuity. The first payment will occur in a year and will be for $20,000. You w continue receiving monetary awards annually, with each award increasing by 5 percent over the previous award, and these monetary awards will continue forever. If the appropriate interest rate is 10 percent, what is the present value of this award