Cost Accounting: Please advise!

1. Sam Lilliam places $5,000 in a savings account that pays 3 percent. Suppose Sam leaves the original deposit plus any interest in the account for two years. How much will Sam have in savings after two years? If required, round your answer to the nearest cent. (Note: the present value tables cannot be used to answer this question; you must instead use the formula that is presented in the appendix to the chapter.) 5,304.5 The present value tables provided in Exhibit 198.1 and Exhibit 19B.2 must be used to solve the following problems. 2. Suppose that the parents of a 12-year-old son want to have $80,000 in a fund six years from now to provide support for his college education. How much must they invest now to have the desired amount if the investment can earn 4 percent? 63,200 How much must they invest now to have the desired amount if the investment can earn 6 percent? 56,400 How much must they invest now to have the desired amount if the investment can earn 8 percent? 50,400 x