3. How much would you have to deposit into an account earning 8% if you wanted to be able to withdraw $100 next year, $102 in two years, 2% more than that in three years, 2% more than that in four years, etc.? (That is, what is the present value of a growing perpetuity if the first payment is $100 and payments grow at 2% per year?) 4. What is the present value of $1,000 per year for 10 years PLUS an extra $50 in year 10 if the interest rate is 8% per year