1. Barbara is starting an investment program. She will invest $1,000 every year, with the first payment made today. She will make a total of 20 payments and will earn 6%. How much will she have at the end of 20 years?

2. Tommy invests $2,000. He earns 3% for 4 years and then 5% for the next 6 years. He makes no withdrawals and pays no taxes. How much will he have at the end of 10 Years?

3. In 2016, a grandfather gave a lif estate to his grandson and a remaider transferred to his granddaughter, Each interst is vallued at $13,000. The gift to the granddaughter is:

a. fully shielded by the annual gift tax exclusion

b. partially shielded by the annual gift tax exclusin

c. taxable

d. fully shielded by the annual gift tax exclusion once it becomes a present interest