2. You estimate that you will need $15,000 in four years (four years from now) to get married. If the interest rate is 5% annually, how much do you need to put in an account today (now), so that you will have $15,000 in four years time?

3. Suppose you put $1000 in an account today and you need to have $6727.5 in the future. If the bank pays 10%, how many years (n) will it take you to have $6727.5?

4. If you buy a bicycle for $1000 and sell it for $1276.3 after 5 years. What is your rate of return? (calculate your interest rate in %)

5. You need $3000 annually (every year=annuity) for 3 years to give to European University of Lefke to graduate. How much money should your dad deposit today in a bank paying 5% so that you will have the needed $3000 annual payments?