Business packet exercise C Sinking fund and Future Value 1. Blake wants $1,000,000 in his retirement annuity 25 years from now. If the annuity earns 6% interest each quarter, what will his quarterly deposits be? 2. John invests $250 into his annuity monthly. The annuity pays 3.7% compounded monthly. How much will it be worth in twelve years? 3. Gwen is saving for her son's college fund that he will use ten years from now. If she pays $200 each month into an annuity that pays 6.9%. How much will her son have when he goes to college? 4. Chrissie wants $10,000 in three years by making quarterly payments into an annuity that pays 7.1% What does she need to deposit each period to reach her goal