1) You are planning for your future needs and retirement. You want to receive $50,000 five years from today and a retirement annuity of $100,000 per year for 25 years with the first payment 10 years...

1) You are planning for your future needs and retirement. You want to receive $50,000 five years from today and a retirement annuity of $100,000 per year for 25 years with the first payment 10 years from today. To pay for this, you will make 5 payments of $A per year beginning today with 10 annual payments of $A with the first payment 8 years from today. With an interest rate of 8%, what is the value for A?
2) You have just won the initial school of finance lottery. You have won $20,000 today, $20,000 five years from today and $60,000 ten years from today. As an alternative, you can receive your winnings as a 10 year annuity with the first payment received five years from today. If you require a 6% return on your investment, how much must the annuity pay you each year for you to select that option?