mechanical contractor has four employees whose combined salaries through the end of this year are $250,000. If he expects to give an average raise of 5% each year, calculate the present worth of the employees' salaries over the next 5 years. Let I = 12% per year.

Suppose Misael has a son and wants to leave him $50,000 for his studies. He has $15,000 and will put it in an account yielding 15% per month. How many years will his child have to wait if he did the counting once the child is born?

Troy Long wishes to deposit a single sum of money into a savings account so that five equal annual withdrawals of $2000 can be made before depleting the funds. If the first withdrawal is made in year 1 after the deposit and if the bank provides an interest rate of 5% per year, how much money should be deposited now? What if Troy decides to withdraw all that he has deposited in the bank now, 5 years later, how much money should he expect to get with an interest rate of 5%? I 2.