At the end of each of the following five years, Eason is going to withdraw $30,000 from an investment account that pays interest at a rate of 8% compounded annually. How much must there be in the investment account today in order for his account to reduce to a balance of zero after the last withdrawal? Show all your calculations.

Abank manager wants to encourage new customers to open accounts with principals of at least $2 comma 500. he decides to make a poster advertising a simple interest rate of 3%. what must the principal be if the bank manager also wants to advertise that one can earn $10 the first month? can the poster correctly say, "open an account of $2 comma 500 and earn at least $10 interest in 1 month! "?