The following are Time Value of Money questions and answers. Just want to know if it's right. Thanks!

1. Terry just celebrated her 20th birthday and she has decided to quit drinking Diet Coke. Terry currently drinks 4 cans of Diet Coke per day at an average cost of $1.00 per can. To reward herself for quitting, Terry plans to invest all that she will save each day (i.e. $4.00) into a savings account that currently pays 10.75% p.a. Assuming her first deposit into the account is made tomorrow, and assuming that there are 365 days per year, how much money will be in Terry’s savings account on her 65th birthday (i.e. 45 years or 16,425 days from today)?

Answer: 706,386,000

2. Exactly nine years ago Frederique borrowed $738,000 to buy a house. The loan had an interest rate of 6.5% and a term of 20 years (i.e. required 240 monthly payments with the first payment exactly one month after Frederique closed on the loan). What is the current payoff (that is, immediately after the 108th payment is made) on the loan assuming that Frederique made all required payments on time?

Answer: 6,793.58

3. What is the present value of a perpetuity of $2750 per year given an interest rate of 8.5 percent p.a. (Assume the first cash flow occurs three years from today).

Answer: 1,948.93

4. What is the present value of a perpetuity of $2750 per year given an interest rate of 8.5 percent p.a. (Assume the first cash flow occurs three years from today).

Answer: .05

Terry just celebrated her 20th birthday and she has decided to quit drinking Diet Coke. Terry currently drinks 4 cans of Diet Coke per day at an average cost of $1.00 per can. To reward herself for quitting, Terry plans to invest all that she will save each day (i.e. $4.00) into a savings account that currently pays 10.75% p.a. Assuming her first deposit into the account is made tomorrow, and assuming that there are 365 days per year, how much money will be in Terry's savings account on her 65th birthday (i.e. 45 years or 16,425 days from today)?

Answer: 706,386,000 = NOT CORRECT.

BASED ON ANNUAL CALCULATION not DAILY
THIS IS WHAT THE SCHEDULE WOULD BE:

YEARS
1 1,460.00 1,616.95
2 3,076.95 3,407.72
3 4,867.72 5,391.00
4 6,851.00 7,587.48
5 9,047.48 10,020.09
6 10,020.09 11,097.25
7 11,097.25 12,290.20
8 12,290.20 13,611.40
9 13,611.40 15,074.63
10 15,074.63 16,695.15
11 16,695.15 18,489.88
12 18,489.88 20,477.54
13 20,477.54 22,678.87
14 22,678.87 25,116.85
15 25,116.85 27,816.91
16 27,816.91 30,807.23
17 30,807.23 34,119.01
18 34,119.01 37,786.80
19 37,786.80 41,848.89
20 41,848.89 46,347.64
21 46,347.64 51,330.01
22 51,330.01 56,847.99
23 56,847.99 62,959.15
24 62,959.15 69,727.26
25 69,727.26 77,222.94
26 77,222.94 85,524.40
27 85,524.40 94,718.27
28 94,718.27 104,900.49
29 104,900.49 116,177.29
30 116,177.29 128,666.35
31 128,666.35 142,497.98
32 142,497.98 157,816.51
33 157,816.51 174,781.79
34 174,781.79 193,570.83
35 193,570.83 214,379.70
36 214,379.70 237,425.51
37 237,425.51 262,948.76
38 262,948.76 291,215.75
39 291,215.75 322,521.44
40 322,521.44 357,192.50
41 357,192.50 395,590.69
42 395,590.69 438,116.69
43 438,116.69 485,214.23
44 485,214.23 537,374.76
45 537,374.76 595,142.55

THE TOTAL SUM WOULD BE $595,142.55

What is the difference between question 3 and 4?

Why show different answers?

Please show the calculations at all times.