1. Farid invested RM10,000 today in a fund that earns 8 percent compounded annually. How much his investment will grow in 3 years? 2. Mr. Violin needs RM20,000 in 4 years to do a major refurbishing of his violin. What amount must he invest today if his investment earns 4 percent interest compounded annually? 3. In 1940, your grandmother put RM1,000 into a special trust to be paid to a future grandchild (you) 60 years later, in the year 2000. How much will this trust be worth in the year 2000 if it has been earning 8 percent? 4. Zafrul will retire in 20 years. He wants to have an amount of RM15,000 available after 20 years. How much does he have to deposit today into a pension plan earning 7 percent annually? 5. You can buy a share of ownership in a partnership right now and you have been assured that you will be able to sell it for RM15,000 five years from now. Assuming your money is worth 5 percent, how much would you be willing to pay for this share today?