Complete the following problems, and upload your solutions as a PDF below by 11:59pm on Tuesday July 27. A few suggestions for creating a PDF file can be found in the syllabus

1. Wilson is planning for retirement, and sets up a payout annuity with the bank, who is offering an account at 8% interest compounded monthly. They want a payout of $1200 per month for twenty years. How much money should be deposited initially? 2. In the preceding problem, how much should Wilson invest instead if he receive an annual COLA of 4%