1/ Based on your answers to the prior 2 questions, how much would you be willing to pay me today for my advice?

HINT: Think about how much more money you would have to have today to invest at 7% to end up with the same amount you would have if I helped you earn 8%.

2/ Suppose that you invest the $1,000 at 7%, but instead of letting it grow for 40 years you only let it grow for 30 years. How much do you have?