3 questions

Problem 5a You want to save $100 per month for 10 years. How much will you have after 10 years if the interest rate is 9% compounded monthly and your first payment is made today? 7.5 points) 12% 1111, l 2 Problem 6: This morning, Frank invested $238,000 to help fund a company expansion project planned for three years from now. How much will the firm have after three years from now if it can earn 4% on its savings? (5 points) 2.3 tl l 2 Problem 7: You are offered a 10-year annuity of $10,000 annual payments. However, the annuity begins in 4 years (you will not receive any payments for four years, but will then receive $10,000 at the end of each year for 10 years with the first payment arriving at the end of year four). If the discount rate is 4% compounded annually, what is the present value of theannuity? (10 points)