1)You want to have $15,000,000 in an account exactly 25 years from today. You will make equal quarterly payments of $25,000 beginning next quarter and ending in 25 years. The account earns 10.00% p.a., compounded quarterly. You must have $________ in its account today.

2)You wish to buy a car today for $50,000. You plan to put 10% down and finance the rest at a stated rate of 7.00% p.a. compounded monthly for five years. You will make equal monthly payments of _____

3)You just decided to begin saving for retirement. You will make deposits of $1,500 per month into a retirement account that earns 6.00% p.a. compounded monthly. The first deposit will be made at the end of the first month and the last deposit will be made when you retire exactly 30 years from today. You will begin to make withdrawals from the account the first month after you retire. If you expect to live an additional 20 years and leave $500,000 to your heirs, you will be able to withdraw $___________ each month. (Note: You make 240 total monthly withdrawals from your retirement