A. Nan needs to save $37,000 to finance her wedding two years from today. How much does she need to deposit into her savings account today to fully fund her wedding if she can earn 5.75 percent interest?
B. You would like to have $2.2 million when you retire 40 years from today. You can earn 8 percent on your investments. How much would you need to invest today to accomplish this goal?
C. Gene wants to have $400,000 in his investment account 20 years from today. Matt also wants $400,000 in his investment account but he is only willing to wait 15 years. How much more would Matt have to deposit today as compared to Gene if they both are to reach their goals and they both earn 15 percent on their investments?