please help

20 Present Value of Lump Sum 21 22 3) Poor old sweet Granny has kicked the bucket. Being totally awesome though she left you an inheritance. 23 You can take $ 10,000 today (age 18) or $25,000 when you turn 30. The current interest rate is 7%. 24 What should you do? Show your work to support your decision. 25 26 27 28 29 30 31 32 4) You believe you will have one million dollars when you retire in 40 years. Sounds pretty great - but what 33 is that actually worth in today's dollars if the average interest rate is 6% over that time period? 34 35 38 39 Future Value of Annuity 40 41 5) You are currently 22 years old and just started your job. You plan on saving $1,200 per year 42 until you retire at age 65. The rate of return you believe your investments will earn is 7%. 43 How much money will you have when you retire? 44 45 46 47 48 49 6) You want to have 2 million dollars when you retire early at age 55 (33 years from now). 50 How much will you have to save each year if you can earn 8%? 51 52 MATTHE