$1.$Given an annual interest rate of $3\%,$ the present value of a future payment of $$3,000$ to be paid in one year is:

$2.$ If you borrow $$12,000$ and agree to pay the lender $$13,000$ in one year, the annual interest rate on the loan is

approximately $\_\_\_\_\_\%.$

$3.$ If a one$-$year project costs $$90,000$ and is expected to return the firm $$105,000,$ then the expected rate of return

of the project is: