Solve various time value of money scenarios: 3.1. Curt just hit the jackpot in Las Vegas and won $50,000! If he invests it now at a 10% interest rate, how much will it be worth in 15 years? 3.2. Nathan would like to have $1 million saved by the time he retires in 20 years. How much does he need to invest now at a 14% interest rate to fund his retirement goal? 3.3. Assume that Lydia accumulates savings of $1,500,000 by the time she retires. If she invests this savings at 8%, how much money will she be able to withdraw at the end of each year for 15 years? 3.4. Pam plans to invest $3,000 at the end of each year for the next ten years. Assuming a 6% interest rate, what will her investment be worth ten years from now? 3.5. Assuming a 12% interest rate, how much would Carol have to invest now to be able to withdraw $20,000 at the end of each year for the next ten years? 3.6. Roger is considering a capital investment that costs $1,145,000 and will provide the following net cash inflows: Year 1: 600,000 Year 2 500,000 Year 3: 400,000 Using an interest rate of 14%, calculate the NPV of the investment 3.7. Suppose you invest a sum of $2,500 in an account bearing interest at the rate of 14% per year. What will the investment be worth six years from now? 3.8. How much would you need to invest now to be able to withdraw $5,000 at the end of every year for the next 20 years? Assume a 12% interest rate. 3.9. Assume that you want to have $150,000 saved seven years from now. If you can invest your funds at a 6% interest rate, how much do you currently need to invest? 3.10. Your aunt Betty plans to give you $1,000 at the end of every year for the next ten years. If you invest each of her yearly gifts at a 12% interest rate, how much will they be worth at the end of the ten-year period? 3.11. Suppose you want to buy a small cabin in the mountains four years from now. You estimate that the property will cost $52,500 at that time. How much money do you need to invest each year in an account bearing interest at the rate of 6 percent per year to accumulate the $52,500 purchase price?