(Present value of a growing perpetuity) As a result of wirining the Gales Energy Innovation Award, you are awarded a growing perpetuity. The first payment will occur in a year and will be for $20,000 You will continue receiving monetary awards annually with each award increasing by 7 percent over the previous award, and these monetary drwards will continue forever. If the appropriate interest rate is 13 percent, what is the present value of this award? The present value of the award is $ (Round to the nearest cont.) (Related to Checkpoint 6,4) (Present value of a perpetuity) What is the present value of a $90 perpetuity discounted back to the prosent at 7 percent? The present value of the perpetuity is $(Round to the nearest cont.) (Comprehensive problem) You would like to have $74,000 in 16 years. To accumulate this amount, you plan to depositanol som in the bank oach year that will eam 8 percent interest compounded annually. Your first payment will be made at the end of the year, a. How much must you deposit annually to accumulate this amount? b. If you decide to make a large lump-sum deposit today instead of the annual deposits, how large should the u-sum deposit be? (Assume you can com 8 percent on this deposit c. At the end of year 5, you will receive $15.000 and deposit it in the bank in an effort to reach your goal of $74.000 at the end of year. In addition to the lump-sum deposit, how much must you invest in 14 equal annual deposits to reach your goal? Again, assume you can com 8 percent on this post) a. How much must you deposit anually to accumulate this amount? (Round to the nearest cent) ary ato