1. An investment promises to pay you $9,000 per year starting in 6 years. The cash flow from the investment is expected to increase by 3% per year forever. If alternative investments of similar risk earn a return of 10% per year, determine the maximum you would be willing to pay for this investment today.
2. Suppose you save $2,000 at the end of every month for your retirement. If you can earn 11% per year (APR) on your investments, how much will you have saved by the time you retire in 25 years?
3. An online marathon fund raiser continues as long as donations keep coming in.The first hour costs $1.00, and then the cost per hour goes up by 8% every hour.Suppose the fundraiser lasts for 84 hours.

a. How much will be raised in the last hour?Enter your answer rounded to two decimal places.

b. How much will be raised in total?Enter your answer rounded to two decimal places.