1. If you want to have $30,000 in your bank account at year 3 and the interest rate is 5% every year, how much money do you have to invest at year 1 ( assuming that you dont invest at time zero)?

2. What is the (net) present value at year zero for the cash flows of -$280 and $300 received at years of 0 and 3, respectively, at a discount rate of 8%?