1-What is the future value of $490 per year for 88 years compounded annually at 10 percent?

2- (Present value of an ordinary annuity)What is the present value of $2 comma 000 per year for 9 years discounted back to the present at 11 percent?

3-You are graduating from college at the end of this semester and after reading the The Business of Life box in this chapter, you have decided to invest $4 comma 800 at the end of each year into a Roth IRA for the next 42 years.If you earn 9 percent compounded annually on your investment, how much will you have when you retire in 42 years?How much will you have if you wait 10 years before beginning to save and only make 32 payments into your retirement account?

4 - (Annuity payments)Mr. Bill S. Preston, Esq., purchased a new house for $90 comma 000.Hepaid $25 comma 000 upfront and agreed to pay the rest over the next 30 years in 30 equal annual paymentsthat include principal payments plus 11 percent compound interest on the unpaid balance.What will these equal payments be?

a. Mr. Bill S. Preston, Esq., purchased a new house for $90 comma 000 and paid $25000 upfront.How much does he need to borrow to purchase the house?

5-(Annuity payments) To pay for your child's education, you wish to have accumulated $13 comma 000 at the end of 13 years.To do this, you plan to deposit an equal amount into the bank at the end of each year.If the bank is willing to pay 11 percent compounded annually, how much must you deposit each year to obtain your goal?

6-(Annuity number of periods) How long will it take to pay off a loan of $49 comma 000 at an annual rate of 9 percent compounded monthly if you make monthly payments of $550?Use five decimal places for the monthly percentage rate in your calculations.

7-(Annuity interest rate) Your folks just called and would like some advice from you.An insurance agent just called them and offered them the opportunity to purchase an annuity for $22 comma 122.72 that will pay them $2 comma 500 per year for 15 years.They don't have the slightest idea what return they would be making on their investment of $22 comma 122.72.What rate of return would they be earning?