1.

What is the accumulated sum of the following stream of payments?

$13,286 every year at the beginning of the year for 14 years, at 5.85 percent, compounded annually.

Round the answer to two decimal places.

2.

You have accumulated some money for your retirement. You are going to withdraw $59,572 every year at the beginning of the year for the next 16 years starting from today. How much money have you accumulated for your retirement? Your account pays you 13.28 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 plan to buy a house in 3 years. You want to save money for a down payment on the new house. You are able to place $298 every month at the end of the month into a savings account at an annual rate of 3.36 percent, compounded monthly. How much money will be in the account after you made the last payment?

Round the answer to two decimal places.