5. You are saving for a new house and you put $10,000 per year in an account paying 8%. The first payment is made today. How much will you have at the end of 3 years?

6. You are renting a storage warehouse for 6 years. The rent is $6,000 per year payable at the beginning of each year. You want to set aside the money necessary to meet these payments. If the money you deposit in the payment account earns 9% compounded annually, how much do you have to deposit in the account?