3. You have recently opened a retirement account and decided to deposit $4,000 a year in the account. If you want to retire in 45 years and the account earns 8 percent interest, how much will you have in your account when you retire?

For all time value of money calculations, use time value of money factors with at least four decimal places and then round your final answer to the nearest whole dollar. Required: answer each of the following questions, which are independent from each other. 1. Southwest Real Estate, Inc. is considering two sites for its latest project, a mixed-use residential and retail shopping development. The company's management has put together the following cash flow estimates and other data for each project: Land and construction costs Annual cash inflows Annual cash outflows Site 1 Cedar Park $5,000,000 680,000 96,000 Site 2 Round Rock $6,500,000 715,000 120,000 Estimated useful life (in years) Interest rate 20 10% 25 8%