Ben Collins plans to buy a house for $281,000. If that real estate is expected to increase in value by 8 percent each year, what will its approximate value be seven years from now? Use Exhibit 1:A. (Round time value factor to 3 decimal places and final answer to the nearest whole number.) Approximate value A family spends $24,000 a year for living expenses. If prices increase by 2 percent a year for the next three years, what amount will the family need for their living expenses after three years? Use Exhibit 1-A. (Round time value factor to 3 decimal places and final answer to the nearest whole number.) Future living expenses Elaine Romberg prepares her own income tax return each year. A tax preparer would charge her $130 for this service. Over a period of 8 years, how much does Elaine gain from preparing her own tax return? Assume she can earn 3 percent on her savings. Use Exhibit 1- B. (Round time value factor to 3 decimal places and final answer to 2 decimal places.) Future value of total gain