QUESTION $1$

Hart wants to have $$250,000$ in $9$ years. He plans to make regular savings contributions of $$18,000$ per year for $9$ years, with the first of these regular

savings contributions made later today. In addition, Hart expects to make a special savings contribution of $x$ in $3$ years. He expects to earn $6\mathrm{.}40$ percent

per year. What is $x,$ the amount of the special savings contribution that Hart will make in $3$ years?

QUESTION $2$

Freddy has $$100,000$ saved and plans to save $$60,000$ per year for $7$ years. His first savings contribution is expected later today. He then plans to make

withdrawals for $5$ years. How much can Freddy expect to withdraw each year if he expects to earn $9\mathrm{.}00$ percent per year. he makes annual withdrawals,

and his first withdrawal is made in $7$ years?

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