1. Use the following 9% interest factors.

Present Value of Future Value of

Ordinary Annuity Ordinary Annuity

7 periods 5.0330 9.20043

8 periods 5.5348 11.02847

9 periods 5.9952 13.02104

What will be the balance on September 1, 2024 in a fund which is accumulated by making $28000 annual deposits each September 1 beginning in 2017, with the last deposit being made on September 1, 2024? The fund pays interest at 9% compounded annually.

2.Vaughn Manufacturing will invest $880000 today. The investment will earn 8% for 6 years, with no funds withdrawn. In 6 years, the amount in the investment fund is

What would you pay for an investment that pays you $36000 at the end of each year for the next ten years and then returns a maturity value of $598000 after ten years? Assume that the relevant interest rate for this type of investment is 8%.