When Marilyn Monroe died, ex-husband Joe DiMaggio vowed to place fresh flowers on her grave every Sunday as long as he lived. The week after she died in 1962, a bunch of fresh flowers that the former baseball player thought appropriate for the star cost about $5. Based on actuarial tables, "Joltin' Joe" could expect to live for 31 years after the actress died. Assume that the EAR is 11.4 percent. Also, assume that the price of the flowers will increase at 4.6 percent per year, when expressed as an EAR. Assuming that each year has exactly 52 weeks, what is the present value of this commitment? Joe began purchasing flowers the week after Marilyn died.

Ami has decided to be cryogenically frozen at the time of her death so that she can be resurrected once medical science has advanced far enough to keep her alive. In preparation, Ami places $161,367 into an investment account which earns an 7.4% rate of return per year. To her amazement, she is one day brought back to life. "How long has it been?" she asks. "245 years" the strangely dressed person replies. How much money is sitting in Ami's investment account? You are welcome to round to the nearest whole number. You need to be within $1 million of the correct answer.

Hector has just received an insurance settlement from her accident claim and the insurance company has offered her several alternatives for receiving her settlement. If the rate of interest is an effective annual rate of 10%, Freddy would receive the greatest benefit by selecting which of the following alternatives (circle the letter corresponding to the best option): a)  10 annual cash payments of $50,000 starting two years from today. b)  10 annual cash payments of $37,500 with the first payment to be paid immediately. c)  $100,000 immediately and 5 annual payments of $40,000 starting one year from today. d)  a one-time cash payment of $250,000 immediately. e)  a one-time cash payment of $400,000 to be paid in 5 years. f)  a one-time cash payment of $650,000 to be paid in 10 years.   Please show procedure and formulas uses. Thanks

In addition to these monthly expenses, other future outlays must be accounted for. Before they had a child, Yvette worked as a software engineer, but her knowledge and skills are now somewhat outdated. Therefore, they include $25,000 for Yvette to go back to school. Additionally, Tim and Yvette want to create a college fund of $30,000 to fund their child's college education. They estimate that final expenses (funeral costs and estate taxes) will amount to $12,000. Finally, they have taken out a loan for home improvements of $130,000 and an automobile loan of $5,000. They own their home but still have an outstanding mortgage of $300,000. Using this information, complete the next portion of Step 1 to determine the total financial resources needed. 2. Special needs a. Spouse's education fund b. Child's college fund c. Other needs $0 3. Final expenses (funeral costs and estate taxes) 4. Debt liquidation a. House mortgage b. Other loans c. Total debt (4a+4b) 5. Other financial needs $0…