1. Your firm has determined that it will need to replace its remote data storage facilty in five years. The cost in five years will be $2.0 million. The CFO has identified a conservative fund that will return 4% per year. He is advocating the establishment of a sinking fund to ensure the funds are avaiable for the new data storage facility at the end of the five years. The first investment will be one year from today, and an equal amount will be invested in the fund at the end of each subsequent year. What dollar amount must the firm invest at the end of each year to have the required $2.0 million at the end of the five years? 2. Powdunck Bank has offered you a $30,000 four-year amortizing loan at 3.75% per year. You will receive the loan on Dec 31, 2020 and make annual payments each year. The first payment will be made on Dec. 31, 2021 and, the fourth and final payment will be made on Dec. 31, 2024. What is you annual loan payment? 3. Complete the amortization table for the loan in Problem 2, shown below: Interest Portion Principal Portion Remaining Balance Date Payment 12/31/20 30,000 12/31/21 12/31/22 12/31/23