Thank you.

Dave has saved $24,000 for a down payment on a home and plans to save another $5400 at the end of each year for the next five years. He expects to earn 2.45% compounded annually on his savings. How much will he have in five years' time? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Future valueThis problem demonstrates the dependence of an annuity's present value on the size of the periodic payment. Calculate the present value of 25 endofyear payments of: {Do not round intermediate calculations and round your nal answers to 2 decimal places] a. $1200. 5: 0. $2200. 5: c. $3200. i: Use a discount rate of 5.2% compounded annually. Alter completing the calculations, note that the present 1.I'alue is proportional to the size of the periodic payment. This problem demonstrates the dependence of the present value of an annuity on the discount rate. For an ordinary annuity consisting of 25 annual payments of$19i2li1 calculate the present value using an annually compounded discount rate of: [Do not round intermediate calculations and round your answers to 2 decimal places} a. 3.3% Observe that the present value decreases as you increase the discount rate. However, the present value decreases proportionately less than the increase in the discount rate. A contract requires endofmonth payments of $255 for another 6 1M years. What would an investor pay to purchase this contract it she requires a rate of return of 4.8% compounded monthly? (Round your answer to 2 decimal places} Immune-r 5