Question: Mr. Case plans to set aside $4,000 each year, the unit payment to be made on January 1, 2008, and the last on January 1,

Mr. Case plans to set aside $4,000 each year, the unit payment to be made on January 1, 2008, and the last on January 1, 2013. How much will he have accumulated by January 1, 2010. If the interest rate is
a. 6% per year?
b. 8% per year?
Required:
Calculations of present and for single payments and for annuities, to make the exercises more realistic, we do no give specific guidance with each individual exercise.

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