1. Suppose you had a relative deposit $10.07 at 5.5% interest 200 years ago. How much would the investment be worth today?
2. You want to purchase a new car, and you are willing to pay $19,970. If you can invest at 10% per year and you currently have $15,000, how long will it be before you have enough money to pay cash for the car?
3. You are saving for a new house, and you put $10,000 per year in an account paying 8%. The first payment is made today. How much will you have at the end of 3 years? (in dollars)