Must use a HP 12c financial calculator. Must show pv, fv, pmt, n, and i values

1. The Jamisons are planning for their daughter's education. She expects to attend Yale University. Tuition currently costs $30,000 per year and is paid in advance and they expect their son to attend college for 5 years. They expect their investments to earn 10% semi-annually and tuition inflation to be 3% each year. How much must the Jamisons invest today to meet their goal? 2. Karen and Martin are planning to retire today. They would like to receive $50,000 per year in today's dollars, at the beginning of each year, for the next 30 years. They expect their investments to earn 13.89% per year and inflation to be 3% each year. How much must they have today, to meet their goal? 3. Winston and Wanda bought a home for $750,000 on May 1st. They made an initial investment of 15% and financed the balance over 20 years at 3.25%. What is their monthly mortgage payment and when do they make it? How much interest will they pay in the first calendar year? How much principal will they repay in the first calendar year? What is the outstanding principal on their loan at calendar year end? a. b. . $50 million in the New York lottery. He can elect to receive a single annuity of $1,500,000 after tax, 4. Big Money Bob won lump sum payout of $22 million after taxes or receive an at the end of each year for the next 20 years. What rate of return would he need to earn to make the lump sum payout, equivalent to the annuity payment? Should Bob take the lump sum payment or the annuity? Nancy has just invested $10,000. She believes she can earn 9% compounded annually. How long will it take for Nancy to double her money? 5