1Suppose a condo generates $13,000 in cash flows in the first year. If the cash flows grow at 2% per year, the interest rate is 11%, and the building will be sold at the end of 19 years with a value of $90,000, what is the present value of the condo's cash flow?

2Suppose you save $5,500 at the end of every quarter for your retirement. If you can earn 10% per year (APR) on your investments, how much will you have saved by the time you retire in 15 years?

3An investment promises to pay you $3,000 per year starting in 6 years. The cash flow from the investment is expected to increase by 2% per year forever. If alternative investments of similar risk earn a return of 13% per year, determine the maximum you would be willing to pay for this investment today.