1. How much would $1,000,000 due in 10 years be worth today if the discount rate was 5%? if the discount rate was 10%. Discuss how and whythe results are different at the different interest rates.

2. If you wanted to have $600,000 in savings at retirement, how much would you need to save each year over the next 25 years if you could earn 9% annually on your savings?

3. How often do you think about the time value of money in your everyday life?