You plan on getting an iPhone Max XS today.

Problem #2a: The cost of the phone is $299 + tax, which is a total of $350 today. However, that is the price if you sign a 2-year contract. The price of the service is $110 per month (starting 1 month from today). If the current interest rate is 2.4% with monthly compounding, what is the total cost of the phone in today's dollars?

Problem #2b: Instead of buying the phone, you think you could just live without a cell phone. If you don't get the phone, you would instead put the initial payment of the phone and monthly payments into your 401k. If the expected return in your 401k is 8% per year with monthly compounding, how much retirement money would you expect to have at the end of the 2-year contract?

Problem #2c: Under the same scenario as Problem 2b, you put $350 today and $110 per month into your 401k for two years. After that there is no more additional savings. How much do you expect to have in your 401k when you retire 30 years from today?