HELP!

Please answer ALL of the following questions. Round all answers to the nearest two decimal places if needed.

*** I provided all the answers to the questions for your reference but I need help on how to solve the problems and come up with the solutions. Please provided formulas and detailed solutions please. Thank you.

QUESTIONS:

1. I plan to deposit $153 into my retirement every year for the next 25 years. The first deposit will be made today (that is, at t = 0) and the last deposit will be made at the end of year 24 (that is, at t = 24). I plan to make no other deposits. Assuming that I will earn 8.18% p.a. on my retirement funds, how much money will I have accumulated 36 years from today (that is, at t = 36)?

Answer: 29,501.40

2. Assume that you deposit $1,257 each year for the next 15 years into an account that pays 17 percent per annum. The first deposit will occur one year from today (that is, at t = 1) and the last deposit will occur 15 years from today (that is, at t = 15). How much money will be in the account 15 years from today?

Answer: 29,501.40

3. How much must you deposit in an account today so that you have a balance of $11,914 at the end of 8 years if interest on the account is 14% p.a., but with quarterly compounding?

Answer: 3962.47

4. The Milken Company is offering you an investment that promises you $10,000 at the end of 7 years if you invest $5,729 today. What is the annual return on this investment?

Answer: 8.28

5. Sam refuses to retire until his retirement account has a balance of at least $309,054. Sam refuses to make any more deposits in the account. The account currently has a balance of $112,258 and earns 6% per year, compounded semi-annually. How long does Sam have before he will retire?

Answer: 17.1