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1. Future Value of Annuity. Jen spends $10 per week on lottery tickets. If she takes the same amount that she spends on lottery tickets and invests it each week for the next five years at 10%, how much will she have in five years?

2. Future Value of Annuity. Kirk can take his $1,000 income tax refund and invest it in a 36-month certificate of deposit at 7%, or he can use the money to purchase a home entertainment system and put $30 a month in a bank savings account that will pay him 7% interest. Which choice will give him more money at the end of three years?

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Category:- Corporate Finance
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