1. You deposit your $2,000 scholarship in an account paying 6% annually, compounded quarterly. 2 years later, you close out your account. How much money do you withdraw?

2. You want to start saving for your daughter's college education now. She will enter college at age 18 and will pay fees of $7,000 at the end of each of the four years. You will start your savings by making a deposit in one year and at the end of every year until she begins college. If annual deposits of $1,042.09 will allow you to reach your goal, how old is your daughter now? Assume you can earn 6% annual interest on your savings. (Hint: this needs to be calculated in 2 parts).

3. You have won a game show prize of a trip across Europe in one year valued at $24,000. If instead, you are able to take the present value of the trip in cash, how much cash would you want if the rate you can earn is 5.5% annually, compounded monthly?

PLEASE ANSWER IN EXCEL