Font AaBbccd AaBbCcDd AaBbc 1 Normal 1 No Spac... Heading 1 Paragraph Styles s tore Module #8 Hand In Assignment 1. A wealthy relative has set up a trust fund for you. In five years, you will receive the first of 300 monthly payments of $2500. You would like to have the money now to start a business. You visit Mr. Hammerhead, the loans officer, and he agrees to lend you money if you sign over all of your trust payments to the bank. How much would you receive if the bank charges interest at 6% compounded monthly? 2. You plan to retire in 21 years. You will need 25 annual payments of $30,000 with the first payment to be received in 21 years. Interest is calculated at 10% effective How much money should you set aside today for your retirement? Instead of making one large payment you would like to make 21 annual payments starting today. Find the size of these payments. How much of your retirement annuity in part bis interest? D Focus to