12. You are 22 years old and decide to start saving for your retirement. You plan to save $4,000 at the end of the first year and then increase your savings by 3% each year until you make the very last deposit at age 65. Suppose you earn 6% per year on your retirement savings. How much will you have saved for retirement right at age 65?

13. A project costs $300 million and is expected to generate cash flows of $66 million per year, starting at the end of the first year and lasting forever. What is the internal rate of return. Do not put in percentage values.