Use the tables in Appendix A from the books website to determine the answers to the following questions. Ignore taxes in all circumstances and round all answers to the nearest whole dollar. a. Titus wishes to have $50,000 in six years. He can make an investment today that will earn 8 percent each year, compounded annually. What amount of investment should he make today to achieve his goal? b. Jacob is going to receive $400,000 on his 50th birthday, 20 years from today. He has the opportunity to invest money today in a government-backed security paying 5 percent compounded annually. How much would he be willing to receive today instead of the $400,000 in 20 years? c. Jason has $60,000 today that he intends to use as a down payment on a house. How much money did Jason invest 20 years ago to have $60,000 now if his investment earned 8 percent compounded annually?

d. Lonnie is the host of a television game show that gives away thousands of dollars each day. One prize on the show is an annuity, paid to the winner, in equal installments of $200,000 at the end of each year for the next five years. If a winner has an investment opportunity to earn 8 percent, annually, what present amount would he or she take in exchange for the annuity?

e. Keri is going to be paid modeling fees for the next ten years as follows: Year 1, $50,000; Year 2, $55,000; Year 3 $60,000; Years 4-8, $100,000; Year 9, $70,000; and Year 10, $45,000. She can invest her money at 7 percent compounded annually. What is the present value of her future modeling fees?