Use the following information for question 1. At the end of 2018, the Lucky Company has $40,000 in accumulated depreciation and $100,000 in retained earnings. Sales Notes Payable Tax Rate Gross Fixed Assets Total Current Liabilities Interest Expense Cash Accounts Payable COGS Total Current Assets Total Debt Net Income Accounts Receivable Addition to Retained Earnings 2019 $250,000 20,000 40% $500,000 100,000 30,000 20,000 30,000 30% of Sales 100,000 200,000 42,000 30,000 20,000 2020 $300,000 50,000 40% $590,000 110,000 35,000 30,000 20,000 30% of Sales 150,000 240,000 48,000 20,000 26,000 2. You deposit $30,000 today. If it grows to $60,000 in 10 years, what rate of interest must have your earned? Answer 3 Today is T=0. If you make five annual deposits into a bank account that pays interest at the rate of 9%, how large must the deposits be if the account is worth $75,000 at the end of the fifth year (T-5) and the first deposit is made today? Answer You will start college on your 18 birthday. Your parents need $100,000 on that day. How much should they deposit into a bank account at the moment of your birth if the bank pays interest at the rate of 6%