Mary has been working for a university for almost 25 years and is now approach

Mary has been working for a university for almost 25 years and is now approaching retirement. She wants to address several financial issues
before her retirement and has asked you to help her resolve the situations below. Her assignment to you is to provide a 4-5 page report addressing each of the
following issues separately. You are to show all your calculations and provide a detailed explanation for each issue.

Mary has been working at the university for 25 years with an excellent record of service. As a result the board wants to reward her with a
bonus to her retirement package. They are offering her $75000 a year for 20 years starting one year from her retirement date and each year for 19 years after
that date. Mary would prefer a one-time payment the day after she retires. What would this amount be if the appropriate interest rate is 7%?

Issue C:MaryAfA?A??cAf?A???A??1Af?A???A??1s replacement is unexpectedly hired away
by another school and Mary is asked to stay in her position for another three years. The board assumes the bonus should stay the same but Mary knows the
present value of her bonus will change. What would be the present value of her deferred annuity?