You have several rich aunts and a quirky uncle. You also have some ambitious retirement plans, but are inconsistent in your retirement planning. The interest rate is 7.48% daily.

You plan on retiring in 25 years, and believe that you will live for 30 years after you retire. You first weekly withdrawal from your retirement account will occur in exactly 25 years from now. (Assume 52 weeks in each and every year.) Your first withdrawal from your retirement account will be $4,000. You want your retirement payments to grow at a rate of 3% q.a. in order to keep up with inflation. In your 5^th year of retirement, you are going to live with your rich aunt Betsy, for 4 years, and thus for those 4 years you will not take any withdrawals from your retirement account, however when your time with Aunt Betsy is over you will want your retirement withdrawals to continue as before, and at the rate that they would have if you had not taken the 4 year break.

You think that finance at Dalhousie is so fantastic, that in 36 years from now, you want to endow a chair that will make an annual payment that grows at 4% ann. Into perpetuity. The first annual payment from your endowment will be 36 years from today and will be $200,000 in todays dollars. Inflation is expected to be 4% q.a. over the next 36 years.

Your rich, but not so bright rich aunt Nellie, left you a $50,000 deposit in the bank that pays simple interest of 8%. She made this deposit 9 years ago. Your quirky aunt Tilley, set up a trust fund for you that makes biannual payments (that is the trust fund makes a payment every two years). The first payment will be in three years, and there are a total of 6 payments. The first payment is $25,000, and the growth rate of the payments is 5% s.a. (Hint: You might want to lay out the cash flows in Excel to help you with valuing the bi-annual payments. Traditional financial calculator formulas will generally give you the wrong answer.)

You plan to start a savings account in 7 years with a quarterly deposit of $500. The deposits will grow 1% per year. Your first deposit will be in exactly 7 years time. You will make these deposits for 12 years.

You realize however that this might not cover your planned retirement expenses (and of course the all important endowment), so you plan to start a second investment account today, that you will continue until the day that you retire. Your deposits into this investment account will be made on a monthly basis. You expect the growth of your deposits into this account to be 2% ann. What must your first deposit into this account be?