Address the needs of clients 3 based on the corresponding data and answer the question.

The theme is to calculate present value, future value and annuity.

Here are examples of needs.

they felt that Harriet would quit working at that time to care for their expected family, and that the loss of her income would make them unable to keep up payments on the house without an annuity to supplement his income. The couple felt that they needed $1,500 a year in supplemental income beginning at the end of the eigth year to assist with the house payments, and that they needed this for each of the next thirty years. They also wanted to have $50,000 with which to make the down payment in seven years when they planned to buy the house. As both were working, they had plenty of funds for savings and were wondering how much they should put away at the end of each of the next seven years to be able to make the down payment and buy the annuity. Lfson felt that an 11 per cent interest rate applied to their situation.