Consider making an investment of $8,600 each year.If the first$8,600 investment is made at the end of this year, how much will you have in:

a.13 years at 6 percent?(Enter your answer as a positive number rounded to2 decimal places.)

b.30 years at 12 percent?(Enter your answer as a positive number rounded to2 decimal places.)

Assume you have just found out you are entitled to receive$118,000 in20 years.If the interest rate is 17 percent, what should you be willing to take today in exchange for the future payment?(Enter your answer as a positive number rounded to 2 decimal places.)