1.) Your aunt offers you a choice of $22,600 in 25 years or $650 today. At a discount rate of 19 percent, how much is your aunt's offer of $22,600 worth today? (Enter your answer as a positive number rounded to 2 decimal places.)

2.) Sherwin Williams will earn $18,500 a year for the next 16 years for a picture he has painted. At an interest rate of 12 percent, how much are the earnings worth today? (Enter your answer as a positive number rounded to 2 decimal places.)

3.) You just won the $40 million lottery. You will receive $1.4 million a year for the next 20 years plus an additional payment of $12 million at the end of 20 years. The interest rate is 11 percent. How much is your lottery prize worth today? (Enter your answer as a positive number rounded to 2 decimal places.)

4.) At an interest rate of 12 percent annually, how long will it take for a $1,000 to double? To triple? (Round your answers to 2 decimal places.)

5.) You need to have $25,656 available at the end of 7 years. How much to do you have invest each year, starting at the end of this year, for 7 years to achieve this goal? (Enter your answer as a positive number rounded to 2 decimal places.)

6.) Larry Davis borrows $87,000 at 11 percent interest toward the purchase of a home. His mortgage is for 25 years.

a. If Larry decides to make annual payments, how much will they be? (Enter your answer as a positive number rounded to 2 decimal places.)

b. How much interest will he pay over the life of the loan? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)