Answer and show your solution:

1. On the first day of the year, a man deposits 1,000 in a bank at 8% per year compounded annually. He withdraws 80 at the end of the first year, 90 at the end of the second year, and the remaining balance at the end of the third year. How much does he withdraw at the end of the third year?

2. What amount of money is equivalent to receiving 5,000 two years from today, if interest is compounded quarterly at the rate of 2.5% per quarter?

3. On the first day of the year, a man deposits 1,000 in a bank at 8% per year compounded annually. He withdraws 80 at the end of the first year, 90 at the end of the second year, and the remaining balance at the end of the third year. How much better off, in terms of net cash flow, would he have been if he had not made the withdrawals at the ends of years one and two?

4. A person lends 2,000 for five years at 10% per annum simple interest; then the entire proceeds are invested for 10 years at 9% per year, compounded annually. How much money will the person have at the end of the entire 15-year period?

5. On the first day of the year, a man deposits 1,000 in a bank at 8% per year compounded annually. He withdraws 80 at the end of the first year, 90 at the end of the second year, and the remaining balance at the end of the third year. What is the net cash flow?