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Please answer and show work, thank you! . 10. (four marks) A...

Please answer and show work, thank you! 

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10. (four marks) A scholarship of $1500 will be awarded to one eligible high school student on each of the following 20 years. If the money can be invested at 10% per year, compounded annually, how much money is needed today to create the scholarship fund? 1 1. (four marks) A furniture retailer offers a payment plan at 9.5% annual interest, compounded monthly. Customers can pay for a living room set by monthly payments of $316.45 for 16 months. What is the cost of the furniture for a customer paying cash at the time of purchase? 12. (four marks) Which is the lump-sum amount needed to generate a retirement income of $45 000 per year for 15 years, assuming interest at 7% per year, compounded annually?

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