2. Franklin Templeton has just invested $10,660 for his son (age one). This money will be used for his sons education 20 years from now. He calculates that he will need $71,544 by the time the boy goes to school. What rate of return will Mr. Templeton need in order to achieve this goal? but calculate your final answer using the formula and financial calculator methods. 3. Les Moore retired as president of Goodman Snack Foods Company but is currently on a consulting contract for $49,000 per year for the next 14 years. but calculate your final answer using the formula and financial calculator methods. a. If Mr. Moores opportunity cost (potential return) is 11 percent, what is the present value of his consulting contract? b. Assuming Mr. Moore will not retire for two more years and will not start to receive his 14 payments until the end of the third year, what would be the value of his deferred annuity? 4. Betty Bronson has just retired after 25 years with the electric company. Her total pension funds have an accumulated value of $330,000, and her life expectancy is 15 more years. Her pension fund manager assumes he can earn a 10 percent return on her assets. What will be her yearly annuity for the next 15 years? but calculate your final answer using the formula and financial calculator methods. 5. Juan Garza invested $121,000 10 years ago at 8 percent, compounded quarterly. How much has he accumulated? but calculate your final answer using the formula and financial calculator methods. 6. You wish to retire in 13 years, at which time you want to have accumulated enough money to receive an annual annuity of $23,000 for 18 years after retirement. During the period before retirement you can earn 9 percent annually, while after retirement you can earn 11 percent on your money. What annual contributions to the retirement fund will allow you to receive the $23,000 annuity? but calculate your final answer using the formula and financial calculator methods. 7. Del Monty will receive the following payments at the end of the next three years: $17,000, $20,000, and $22,000. Then from the end of the 4th year through the end of the 10th year, he will receive an annuity of $23,000 per year. At a discount rate of 10 percent, what is the present value of all three future benefits?but calculate your final answer using the formula and financial calculator methods