3. Citibank pays 1% per year on their savings accounts, but charges 4% per year on loans they make to you. Which interest rate will you use to take present or future values in the following situations? In cach situation find the amount indicated. (a) My baby daughter has just been born, and I invest $20,000 today to pay for her college education. I need to find out how much I will have on her 17th birthday. (b) My credit card debt of $20,000 has an extortionate interest rate of 24% per year. If I don't do anything, how much will I owe three years from today? (c) My credit card debt of $20,000 has an extortionate interest rate of 24% per year. I "refinance" the debt: I pay off the credit card completely by getting money from "somewhere". I need to calculate how much I will need to pay on the amount I got from "somewhere in 3 years. (d) I am planning to buy a fancy mattress two years from today. The mattress costs $4,000. I won't have any money of my own at the time I buy the mattress. How much will I owe five years from today? I won't be making any payments in the meantime. (e) I am planning to buy a fancy mattress two years from today. The mattress costs $4,000. I decide to put aside some money today to be able to afford it. How much do I need to put aside? (f) My grandma, who has the same investment opportunities as I do, put aside $20,000 two years ago. She plans to give whatever is in the account to me one year from now. How much will I receive