8.

5. What is the value today of a money machine that will pay $1,676.00 per year for 14.00 years? Assume the first payment is made 8.00 years from today and the interest rate is 12.00%.

8. Derek will deposit $3,037.00 per year for 29.00 years into an account that earns 7.00%, The first deposit is made next year. He has $12,488.00 in his account today. How much will be in the account 38.00 years from today?