Exercise $5-27($Algo$)$ Future and present and values; Excel $[$LO$5-2,5-3,5-7,5-8]$

Compute the value for each of the following independent situations.

Note: Use Excel or a financial calculator. Round your answers to $2$ decimal places.

To save for their new child$$s college education, a couple places $$28,000$ in an account. What amount will accumulate in the account at the end of $18$ years, assuming an interest rate of $7\mathrm{.}25\%$ compounded annually?

An individual has just inherited a piece of land. The individual plans to hold the land for three years and then expects the land to sell for $$207,500.$ What is the value today of inheriting the land, assuming an interest rate of $8\mathrm{.}5\%$ compounded annually?

To save money for the down payment on a house, an individual places $$6,500$ in an account at the end of each quarter. What amount will accumulate in the account at the end of four years, assuming an interest rate of $9\mathrm{.}75\%$ compounded quarterly?

To purchase a car, an individual agrees to pay $$1,100$ at the end of each month for the next six years. What is the cost of the car today, assuming an interest rate of $6\mathrm{.}5\%.$

To help repay debt that will come due in $12$ years, a company places $$26,000$ in an account at the beginning of each six$-$month period. What amount will accumulate in the account at the end of $12$ years, assuming an interest rate of $4\mathrm{.}5\%$ compounded semiannually?

To rent office space, a company signs a lease agreeing to pay $$4,000$ at the beginning of each month for the next three years. What is the cost today of the lease, assuming an interest rate of $5\%$ compounded monthly?