1. You currently have $20000.00 in a bank account that pays you 5 percent interest annually. You plan to deposit $800 (starting 1 year from now) every year for the next 10 years in the same account. How much are you going to have in that account at the end of 10 years?
2. You are to make monthly deposits of $1300 into a retirement account that pays 4 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 25 years?
3. The Miami Dolphins are considering paying Jonathan Martin a lump sum of $11967000 three years from now as part of a settlement. If the relevant discount rate is 9 percent, what is the present value of this liability?