7.) Your grandmother has been putting $ 1 comma 000 into a savings account on every birthday since your first (that is, when you turned one). The account pays an interest rate of 3 %. How much money will be in the account immediately after your grandmother makes the deposit on your 18th birthday The amount in the account upon your 18th birthday is $____(Round to the nearest dollar.)

8.) A rich relative has bequeathed you a growing perpetuity. The first payment will occur in a year and will be $ 4 comma 000. Each year after that, you will receive a payment on the anniversary of the last payment that is nbsp 5 % larger than the last payment. This pattern of payments will go on forever. Assume that the interest rate is nbsp 9 % per year. a. What is today's value of the bequest? b. What is the value of the bequest immediately after the first payment is made? a. What is today's value of the bequest? Today's value of the bequest is $____ (Round to the nearest dollar.)