You advise the couple that a better strategy for accumulating money for their future might be to make regular deposits, for example, at the end of each year.

(1) If Vic and Rachel deposit $2,000 at the end of each year in a bank account that pays 5% interest per year, how much will they have after (a) 20 years? (b) 30 years? (c) 40 years?

(2) What if the deposits were made at the beginning of each year? Compare your results with the results when the deposits are made at the end of each year.

(3) How much would they have to deposit at the end of each year to accumulate $5,000,000 after 40 years at 5%?

(4) If they could only deposit $10,000 at the end of each year, how many years of earning 5% would it take them to accumulate $5,000,000?

(5) If they could deposit $25,000 at the end of each year for 40 years, what interest rate would result in their having $5,000,000 at the end of the 40 years?