3)What is the future value of a 46-year annuity that pays $101 each year if the first payment is made today and the interest rate is 3 percent, annually compounded? Round your answer to the nearest cent.

4)What is the present value of a perpetuity that makes an annual payment of $92 per year forever, if the applicable interest rate is 5.7 percent, annually compounded?Round your answer to the nearest cent.