1. Suppose you invest $250 today for 5 years at 3% interest. How much will you have at the end of 5 years?

2. Suppose you will receive $1,000 in 17 years time. If the interest rate is 4%, what is the present value?

3. What is the present value of a series of cash flows of $75 received every year for 13 years where the first payment is received next year? Assume an interest rate of 5%.

4. What is the present value of the series of cash flows from Question 3 if the cash flow grows at a rate of 2% per year after the first payment?