Need help on solving questions 2-5

- lead 2. What is the present value (or purchase price) of an annuity product which will pay you $2,000 at the end of each year for the next 15 years? Use an interest rate of 9%. 3. You currently have $7,500 to invest. You can invest the full amount now for a period of 9 years, at which time you want to have $15,000. Approximately what rate of return is needed to accomplish this investment goal? 4. You receive an inheritance of $25,000 and promptly invest it in an account which yields an $25,000 last? 5. You are trying to decide between investing $3,000 or $4,000 at the beginning of each year for the next 20 years into a retirement account yielding 11%. After 20 years, how much extra money would you have in your account if you invested $4,000 annually versus $3,000 annually? 23