Michael Bautista needs $20,000 in 6 years. What amount must he invest today if his investment earns 8% compounded annually? What amount must he invest if his investment earns 8% annual interest compounded quarterly? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)

Julia Willis will invest $24,900 today. She needs $63,826 in 24 years.

What annual interest rate must she earn?

Leon Newman will invest $9,960 today in a fund that earns 6% annual interest. How many years will it take for the fund to grow to $16,827?

Sally Medavoy will invest $8,790 a year for 22 years in a fund that will earn 11% annual interest. If the first payment into the fund occurs today, what amount will be in the fund in 22 years? If the first payment occurs at year-end, what amount will be in the fund in 22 years? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)