7. Alice is trying to decide whether to invest a lump sum of $1000 now at age 21 or wait 22 years and invest $1000 at age 43. How much more money will Alice have at age 65 if she invests the money now rather than in 22 years from now, assuming that she can earn 4.8% on her money compounded quarterly? 8. In 3 years Bart plans to pay $9000 for a car. What lump sum must he deposit today at 8% compounded semiannually so that he will have $9000 in 3 years? 9. Over a 40-year period, shares in a particular mutual fund have increased at 12% compounded monthly. If you had invested $100 at the end of each month in this fund, how much money would you have accumulated at the end of those 40 years? 10. Caitlin wants to give $2,000,000 to her alma mater in 20 years. How much does she have to invest at the end of each quarter at 6.6% compounded quarterly in order to accumulate $2,000,000 in 20 years? 11. (6 pts) Find the future value at compound interest of a lump sum of $25,000 invested at 6% for 10 years compounded: (a) annually (b) monthly (c) continuously