a) Today you make a single deposit which will compound annually at 12%, how long will it take for your deposit to be worth 17 times its original amount?

b) You have just received word that you won a lottery prize, but must make a choice between two different options. You may receive $10,000 per year for each of the next 10 years (first cash flow to start exactly one year from today) or you may receive $7,660 per year for some period of time (first cash flow also to begin exactly one year from today). How many years would the second cash flow have to be received for the two options to be equal in value? (Assume that all cash flows compound or discount at 10%.)

c) You have just bought (bought it today) a boat for $150,000. To obtain a fifteen year loan at 8%, you put 30% down (paid 30% in cash) and financed the balance. How much would the 15 equal annual payments be if the payments pay both principal and interest and the first payment begins exactly one year from today?