1. You deposit $1000 at the end of each year into an account earning 6% interest compounded annually. How much will you have in the account in 25 years?
2. A man wants to set up a 529 college savings account for his granddaughter. How much would he need to deposit at the end of each year into the account in order to have $30,000 saved up for when she goes to college in 17 years, assuming the account earns a 4% return.
3. A business sets up a sinking fund so they will have a $54,000.00 to pay for a replacement piece of equipment in 7 years when the current equipment will be sold for scrap. They make deposits at the end of each quarter for 7 years in the investment that pays 7.1% compounded quarterly. How much should they deposit each time to have $54,000.00 in 7 years? Round to 2 decimal places.