1. Determining the Required Deposit. If you want to have $7,000 in five years, how much do you have to deposit today if your investment earns a rate of 3 percent per annum? 2. Calculating the Future Value of a Single Swm. What is the future value of $20,000 received in 10 years if it is invested at 6 percent compounded annually for the next sis years and at 5 percent compounded annually for the remaining four years? (Hint: Two calculations needed) 3. The Benevolent Company has agreed to lend you funds to complete the last year of your degree. The Company will lend you $2,400 today, if you agree to repay a lump sum of $4,000 four years from now. What annual rate of interest is the Company charging you? 4. Calculating Future Value of a Series of Amounts. Elaine Romberg prepares her own income tax retum each year. A tax preparer charges her $60 for this service. Over a period of 10 years, how much does Elaine gain from preparing her ows tax return? Assume she can earn 6 percent with a savings certificate. 5. Calculating Present Value of a series of amounts. Ahmed would like to retire from his stressful job at age 55. He is currently 45 . He expects to live until age 85 , so needs 30 years of support and estimates 545,000 a year. The interest rate he can achieve on investments is 8% p a. How much will he need when he retires? 6. Calculating Anmual Payments. What annual payment is required to pay off a four ycar, $20,000 loan if the interest rate being charged is 7 percent