The court ruled that Lox Auto was able in the death of an employee.
The settlement called for the company to pay the employee's widow $60,000 at the end of each year for 20 years. Find the amount the company must set
aside today, assuming 5% compounded annually.

Pamela has a 30-year, 5.75% mortgage on her $250,000 home. she has been paying on it for 5 years, and has recently hit some financial trouble. if her lender agreed to lower the interest rate on her $231,905.47 balance to 5.5%, what will her new payment be for the remainder of the loan?