$6.$ In $1895,$ the first U$.$S$.$ Open Golf Championship was held. The winner$$s prize money was $$150.$ In

$2016,$ the winner$$s check was $$1,800,000.$ What was the percentage increase per year in the

winner$$s check over this period? If the winner$$s prize increases at the same rate, what will it be in

$2040?$

$7.$ You are planning to make monthly deposits of $$160$ into a retirement account that pays $9$ percent

interest compounded monthly. If your first deposit will be made one month from now, how large

will your retirement account be in $24$ years?

$8.$ You're prepared to make monthly payments of $$320,$ beginning at the end of this month, into an

account that pays $9$ percent interest compounded monthly. How many payments will you have

made when your account balance reaches $$22,655?$

$9.$ Suppose you are going to receive $$8,000$ per year for $7$ years. The appropriate interest rate is $9$

percent. What is the present value of the payments if they are in the form of an ordinary annuity?

What is the present value if the payments are an annuity due?

$10.$ You want to buy a new sports car from Muscle Motors for $$34,000.$ The contract is in the form of

an annuity due for $60$ months at an APR of $9\mathrm{.}00$ percent. What will your monthly payment be$?$