5. If I put $1000 in a savings account today and add $200 to the account each year, how much will I have at the end of 20 years if the interest rate is 6% per year (compounded annually)? 6. What is the present value of a perpetuity that pays out $300 per month (discount at 7% Annual rate)? 7. A credit card company quotes a rate of .05% per day compounded daily. (a) What is the EAR? (b) What is the APR? 8. I am thinking of buying a perpetuity that pays out $100 per month forever. The payments begin 5 years from today. What is the present value of this perpetuity discounting at an annual rate of 11%? 9. In the previous problem, suppose the first payment is $100 and that the payments increase at an annual rate of 5% thereafter. What is the present value of the perpetuity (use a discount rate of 11%). 10. Suppose that I buy an annuity that makes payments of $100 per month beginning 5 years from today and continuing for ten years after that (a total of 120 payments). What is the present value of the annuity (use a discount rate of 11%)