1.You are promised one-off bonus 55203 in two years time. If the discount rate is 6% what is the present value of this payment.

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2. You are trying to save to buy a new car costing 13065. You have 10000 today that can be invested at your bank. The bank pays 8 % annual interest. How long will it be before you have enough to buy the car?

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3. You have a target to have 24358 in your savings account in 5 years time. You are prepared to make equal quarterly payments into your account during that time. If the account pays 4% (annual) interest, what amount must you deposit each quarter?

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