13. Morris Stocks has a Roth IRA with $2,200 payments each year for 11 years in an account paying 7% annual interest. What is the future value of the annuity due at the end of this period of time? 14. Maura Helba is saving for her college expenses. She sets aside $175 at the beginning of each three months in an account paying 8% annual interest compounded quarterly. How much will Maura have accumulated in the account at the end of four years? 15. What is the present value of a semiannual ordinary annuity of $2,500 for seven years at 6% annual interest compounded semiannually? 15. What is the present value of a semiannual ordinary annuity of $2,500 for seven years at 6% annual interest compounded semiannually? 16. How much will you need to invest today to have quarterly payments of $800 for ten years? The interest rate is 8% annually, compounded quarterly. 17. Goldie's Department Store has a fleet of delivery trucks that will last for three years of heavy use and then need to be replaced at a cost of $75,000. How much must they set aside every three months in a 17. Goldie's Department Store has a fleet of delivery trucks that will last for three years of heavy use and then need to be replaced at a cost of $75,000. How much must they set aside every three months in a sinking fund at 8% annual interest, compounded quarterly, to have enough money to replace the trucks? 18. Linda Zuk wants to save $25,000 for a new boat in six years. How much must be put aside in equal payments each year in an account earning 6% annual 18. Linda Zuk wants to save $25,000 for a new boat in six years. How much must be put aside in equal payments each year in an account earning 6% annual interest for Linda to be able to purchase the boat? 19. What is the present value of an ordinary annuity of $3,400 at 5% annual interest for seven years? 20 . An annual ordinary annuity of $2,500 for five years at 5% annual interest requires what lump-sum payment now