Adams Hitchcock is 43 years old today and he wishes to accumulate $512,000 by his 65 th birthday so he can retire to his summer place on Lake Hopatcong. He wishes to accumulate this amount by making equal deposits on his 43 th through his 64 th birthdays. What annual deposit must Adams make if the fund will earn 8% interest compounded annually?

Carla Ross has $19,000 to invest today at 9% to pay a debt of $37,859. How many years will it take her to accumulate enough to liquidate the debt?

Pearl Houston has a $24,900 debt that she wishes to repay 6 years from today; she has $14,847 that she intends to invest for the 6 years. What rate of interest will she need to earn annually in order to accumulate enough to pay the debt?