1. The Philadelphia Eagles drafted Derek Barnett in the 1st round of the 2017 draft. He signed a rookie contract that will payout $12,850,998 over 4-years with an additional signing bonus of $7,486,642. The maximum rate a rookie contract can increase from one year to the next is 25%. If the contract increases at 25% per year and the interest rate is 5% what is the present value of Derek Barnetts contract?

2. If you invest 100 dollars today and it became 600 dollars in 5 years what is the annual interest rate?

3. If you started saving at 25 you plan to retire in 30 years. You decide to save 100 dollars per month for 15 years. How much would you have when you retire? The annual interest rate is 12% compounded monthly. (Future value annuity)