1.A zero-coupon bond is a security that pays no interest, and is therefore bought at a substantial discount from its face value. If the interest rate is 5% with annual compounding how much would you pay today for a zero-coupon bond with a face value of $1,900 that matures in 8 years?

2.A financial institution offers a "double-your-money" savings account in which you will have $2 in 6 years for every dollar you invest today. What annual interest rate does this account offer? Please specify your answer in decimal terms and round your answer to the nearest thousandth (e.g., enter 12.3 percent as 0.123).

3.You have $50,000 in savings for retirement in an investment earning 8% annually. You aspire to have $1,000,000 in savings when you retire. Assuming you add no more to your savings, how many years will it take to reach your goal? Please round your answer to the nearest hundredth.

4.You have $1,300 in savings for retirement. If your investments earn 12% annually, how much will you have in your retirement account in 11 years? Please round your answer to the nearest hundredth.