3. If you deposit $1,600 in an account paying 8% today and deposit $1,600 every year into the account, how much will you have in 4 years?

4. The average price for a new car today is $29,000. If the rate of inflation is expected to be 3.5% annually, what will a new car cost in 7 years?

5. You bought a stock 7 years ago for $45. Today, the stock is selling for $79. If you sell today, what rate of return have you earned on the stock?