Problem
1. Melinda Gibbs would like for her descendants to be able draw $40,000 every year for ever starting 30 years from now. She has found a mutual fund that will provide her a guaranteed 10% return forever. She will make ten equal deposits starting today. How much must be each of the ten uniform deposits?
2. If you had $2,000 now and invested it at 10% interest compounded annually, how much would it be worth in eight years?
3. If an amount invested 5 years ago has doubled, what is the annual interest rate?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.