only 4 and 5 questionss

4. Upon graduating from college 40 years ago, Dr. Nick Riviera was already planning for his retirement. Sincethen, he has made deposits into a retirement fund on a monthly basis in the amount of $100. Nick has just completed his final payment and is at last ready to retire. His retirement fund has earned 11 percent compounded monthly. How much has Nick accumulated in his retirement account? (9 marks) 5. To pay for yourchild's education, you wish to have accumulated $18,000 at the end of 10 years. To do this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 14 percent compoundedannually, how much must you deposit each year to obtain your goal? (9 marks) ...are discounted back is the future value of $ 8000 invested for 10 years at 7 percent compoundedsemi- annually? (4 marks) 2. If you put your inheritance in an account that earns 8 percent interest compounded annually, how many years will it be before your inheritance grows to $34000? (5 marks) 3. You are considering investing in a security that will pay you $1,000 in 27 years. If the appropriate discount rate is 8 Percent, what is the present value of this investment? (4 marks) 4. Upon graduating from college 40 years ago, Dr. Nick Riviera was already planning for his retirement. Sincethen, he has made deposits into a retirement fund on a monthly basis in the amount of $100. Nick has just completed his final payment and is at last ready to retire. His retirement fund has earned 11 percent compounded monthly. How much has Nick accumulated in his retirement account? (9 marks) 5. To pay for yourchild's education, you wish to have accumulated $18,000 at the end of 10 years. To do this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 14 percent compoundedannually, how much must you deposit each year to obtain your goal? (9 marks) Determine the present value of an annuity due of $4000 per year for 8 years discounted back to the present at an annual rate of 8 percent. What would be the present value of this annuit- due if it were discounted at an annual rate of 14 percent? (9 marks) PART B