Part a) You have just started a new job and plan to save $4,550 per year for 41 years until you retire. You will make your first deposit in one year. How much will you have when you retire if you earn an annual interest rate of 10.45 percent?

Part b) You have just leased a car that has monthly payments of $325 for the next 5 years with the first payment due today. If the APR is 5.88 percent compounded monthly, what is the value of the payments today?

Part c) Your parents are giving you $265 a month for 4 years while you are in college. At an interest rate of .33 percent per month, what are these payments worth to you when you first start college?