show work please

just the 1st question

Time Value of Money Problems Directions: Please complete the following problems. You can use the formula approach or Microsoft Excel. However, make sure to show all of your work. For instance, if you choose to write down your answers on paper, write down the formula and the inputs you used. 1) Martha currently has $60,000 to invest. She will invest this money in an account that pays 4% interest compounded annually for 8 years. How much money will Martha havelat the end of 8 years? 2) Tim currently has $60,000 to invest. He will invest this money in an account that pays 4% interest compounded semiannually for 8 years. How much money will Tim have at the end of 8 years? 3) John wants to have $700,000 in 15 years. He opens an account today and will earn 6% interest, compounded semi-nually. How much money must John invest today to reach his goal? 4) Julie is opening up a retirement account today. The account will pay 6% interest compounded annually. She plans to invest $6,000 per year for 25 years at the beginning of the year. How much will she accumulate at the end of 25 years? 5) Michael has just won the lottery! He has an option of taking a lump sum of $17 million or can be paid. $900,000 per year for 30 years at the end of the year. The discount rate is 3%. Which option is better