More info 1. Suppose you invest a sum of $3,500 in an interest-bearing account at the rate of 12% per year. What will the investment be worth six years from now? 2. How much would you need to invest now to be able to withdraw $7,000 at the end of every year for the next 20 years? Assume an 8% interest rate. 3. Assume that you want to have $155,000 saved seven years from now. If you can invest your funds at a 10% interest rate, how much do you currently need to invest? 4. Your aunt Cathy plans to give you $2,500 at the end of every year for the next ten years. If you invest each of her yearly gifts at a 14% interest rate, how much will they be worth at the end of the 10-year period? 5. Suppose you want to buy a small cabin in the mountains four years from now. You estimate that the property will cost $52,500 at that time. How much money do you need to invest each year in an interest-bearing account at the rate of 8% per year to accumulate the purchase price?