3. Suppose you put $20,000 in an investment account today that earns 4% per year (compounded annually), how much will you have in 10 years? (10 points) 4. You are offered a 20-year annuity of $10,000 annual payments. However, the annuity begins in 6 years (you will not receive any payments for six years, but will then receive $10,000 at the end of each year for 20 years with the first payment arriving exactly 6 years from today). If the discount rate is 4 percent per year (compounded annually), what is the current value of the annuity? (15 points) 5. Suppose you are offered an investment that will pay you $1,000 a month for 30 years. If your required return is 3% per year, compounded monthly, what would you be willing to pay for this investment? (10 points) 7. Suppose you borrow $500,000 to buy a house. If your monthly payments on the 25-year mortgage are $3,221.51, what interest rate are you paying? State your answer as an APR. (15 points)