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. You are graduating from college at the end of this semester, and you have decided to invest $5000 a year for the next 45 years. If you earn 8% com pounded annually on your investment. How much will you have when you retire in 45 years? How much will you have if your $5000 investment were made at the beginning of each year? 3. Your grandmother has offered to give you $1,000 per year for the next 10 years. What is the present value of this 10-year, S1,000 annuity discounted back to the present at 5 percent? What will be the present value if you received the $1,000 payment at the beginning of each year