Problem 1. Joe Mauer, a catcher for the Minnesota twins is expected to hit 15 home runs in 2012. If his home run hitting ability is expected to grow 12 percent every year for the following five years, how many runs is he expected to hit in 2017?
Problem 2. Roy Gross is considering an investment that pays 7.6 percent. How much will he have to invest today so that the investment will be worth $25000 in six years?
Problem 3. Maria Addai has been offered a future payment of &750 two years from now. If she can earn 6.5 percent compounded annually on her investment, what should she pay for this investment today?