Calculating present and future values. Use future or present value techniques to

solve the following problems. $($LO$6)$

a$.$ Starting with $$15,000,$ how much will you have in $10$ years if you can earn $6$

percent on your money? What If you can earn only $4$ percent?

b$.$ If you inherited $$45,000$ today and invested all of it in a security that paid a $7$

percent rate of return, how much would you have in $25$ years?

c$.$ If the average new home costs $$442,000$ today, how much will it cost in $10$ years

if the price increases by $5$ percent each year?

d$.$ You forecast that in $15$ years, it will cost $$248,000$ to provide your child with a $4-$

year college education. Will you have enough if you take $$70,000$ today and invest

it for the next $15$ years at $5$ percent? If you start from scratch, how much will you

have to save each year to have $$248,000$ in $15$ years if you can earn a $5$ percent

rate of return on your investments?

e$.$ If you can earn $4$ percent, how much will you have to save each year if you want

to retire in $35$ years with $$1$ million?

f$.$ You plan to have $$1\mathrm{.}2$ million in savings and investments when you retire at age

$60.$ Assuming that you earn an average of $6$ percent on this portfolio, what is the

maximum annual withdrawal you can make over a $25-$year period of retirement?