Question $1$

You decide you want your child to be a millionaire. You have a son today and you

deposit $$10,000$ in an investment account that earns $7\%$ per year. The money in the

account will be distributed to your son whenever the total reaches $$1,500,000.$ How

old will your son be when he gets th

Question $2$

Your son is born today and you want to make him a millionaire by the time he is $50$

years old. You deposit $$10,700$ in an investment account and want to know what

annual interest rate must you earn in order to have the account value equal to

$$1,000,000$ on your son$$s $50$th birthday

Question $3$

Today is your $20$th birthday and your bank account balance is $$25,000.$ Your account

is earning $6\mathrm{.}5\%$ interest compounded semiannually. How much will be in the account

on your $50$th birthday?

Question $4$

Today is your $21$st birthday and your bank account balance is $$25,000.$ Your account

is earning $6\mathrm{.}5\%$ interest compounded quarterly. How much will be in the account on

your $50$th birthday?