1. Your goal is to have $120,000 in 10 years. To accumulate this amount, you plan to deposit each year an equal sum in the bank, which will earn 8% compounded annually. Your first payment will be made at the end of the year. You know today that at the end of 5 years, you will receive a gift of $30,000 and deposit this in the bank toward your goal. In addition to the gift, how much must you deposit in equal annual deposits to reach your goal? 5. What is the projects discount payback? The interest rate is 8%. The projects free cash flows are expected to be $39,000 annually for eight years. It will cost $185,000 to start.