PROBLEMS 1. CLOVIS SCHOOL DISTRICT IS TRYING TO REPLACE ITS SCHOOL BUSES IN TEN YEARS. IT HAS ESTIMATED THAT IT NEEDS $500,000 TO REPLACES THE BUSES THE DISTRICT WANTS TO KNOW HOW MUCH EACH YEAR, IT SHOULD SAVE AND INVEST SO THAT BY TEN YEARS THEY HAVE $500000. THEIR BANK TELLS THEM THEY CAN INVEST THE MONEY AT 5% FOR THE FIRST FIVE YEARS AND AT 7% FOR THE REMAINING FIVE YEARS. HOW MUCH EACH YEAR MUST BE SAVED AND INVESTED AT THOSE RATES TO HAVE $500,000 IN TENS YEARS?: PROBLEM 2. YOU READ THE FOLLOWING ADD IN FRESNO BEE: ABC INVESTMENT IS OFFERING YOU THE OPPORTUNITY TO INVEST $1000 A YEARS WITH THEM FOR TEN YEARS THEN, AFTER THAT THEY PROMISE TO GIVE YOU $1000 A YEAR FOR LIFE. WHAT IS THE RATE OF RETURN ON THIS INVESTMENT? DOES AGE MATTER