Suppose You just won the lottery! As your prize you will receive $1,200 a month for 100 months. If you can earn 8% compounded monthly on your money, what is this prize worth to you today?

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2. The Ajax Co. just decided to save $1,500 a month for the next five years as a safety net for recessionary periods. The money will be set aside in a separate savings account which pays 3.25% interest compounded monthly. It deposits the first $1,500 today. How much would the company end up with, in this saving account, at the end of the 5 years? 
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4. What is the future value of $10,000 in 20 years at 6% with continuous compounidng?
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6. You are offered an annuity that will pay you 10,000 at the end of each year for 20 years, with the first payment being in 10 years from today. If the interest rate is 12% annually, what is this annuity worth to you today?
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8. What is the present value of a perpetuity that will pay $10,000 in one year and grow at 3% annually, if the discount rate is 10%. (first payment at the end of this year).
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10. What is the effective annual rate for 12% annual percentage rate with noncontinuous compounding.
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