1,You need to accumulate $10,000. To do so, you plan to make deposits of $1,400 per year - with the first payment being made a year from today - into a bank account that pays 9% annual interest. Your last deposit will be less than $1,400 if less is needed to round out to $10,000. How many years will it take you to reach your $10,000 goal? Do not round intermediate calculations. Round your answer up to the nearest whole number.

year(s)

How large will the last deposit be? Do not round intermediate calculations. Round your answer to the nearest cent.

$

2,What is the present value of a perpetuity of $300 per year if the appropriate discount rate is 8%? Do not round intermediate calculations. Round your answer to the nearest cent.

$

If interest rates in general were to double and the appropriate discount rate rose to 16%, what would happen to the present value of the perpetuity?

When the interest rate is doubled, the PV of the perpetuity