How much must the Big Boy invest today to spend $15,000 next year on a trip to Tahiti, $30,000 for a new car three years from today, and $25,000 per year for five years beginning at the end of year 4 for other fun stuff? He can earn 5% on his investments. (Round Your Answer to 2 Decimal Places)

• How much money will Slats Slattery accumulate at the end of twenty years if he presently has $175,000 and plans to invest $50,000 per year for the next ten years? He can earn 4% on his investments. (Round Your Answer to 2 Decimal Places)

• Lucky just won the Power Ball lottery for $300,000,000. She has the option of receiving a $15,000,000 annuity for the next 20 years beginning today or a lump sum payment of $175,000,000 today. If she can earn 6% on her investments, should she take the lump sum or annuity?
  • Take lump sum?
  • Take Annuity?

• Monk Manley needs $30,000 to buy a new car. Nick the Greek has offered to lend him the money if he agrees to repay $622.75 per month for the next 5 years. What annual interest rate is being charged on the loan? (Round Your Answer to 2 Decimal Places)

Meat Murray wishes to buy a boat in five years that presently costs $120,000. He expects the cost of the boat to increase due to inflation by 2% per year for the next two years and 4% per year the following three years. He also wants to spend $75,000 per year for 6 years beginning at the end of 10 years from today. How much must he save each year for the next 5 years if he can earn 7% on his investments? (Round Your Answer to 2 Decimal Places)Horseman Pileggi borrowed $20,000 at a rate of 10% and must repay it in 5 equal installments at the end of each of the next 5 years. By how much would he reduce the amount he owes in the first year? (Round Your Answer to 2 Decimal Places)