Derek will deposit $1,950.00 per year for 22.00 years into an account that earns 15.00%. The first deposit is made today. How much will be in the account 22.0 years from today? Note that he makes 22.0 total deposits.

Derek will deposit $428.00 per year into an account starting today and ending in year 7.00. The account that earns 15.00%. How much will be in the account 7.0 years from today?

Derek has the opportunity to buy a money machine today. The money machine will pay Derek $49,970.00 exactly 7.00 years from today. Assuming that Derek believes the appropriate discount rate is 6.00%, how much is he willing to pay for this money machine?