3. Suppose you want to have $500,000 save by the time you reach age 50 and you are 30 years old today. If you can earn 5% on your funds, how much would you have to invest today to reach your goal? 4. How much would you have to deposit in an account today that pays 12% interest, compounded annually, to have a balance of $20,000 in the account at the end of 10 years? How much if the interest was compounded quarterly? 5. Your employer has promised to give you a $10,000 bonus after you have been working for him for 10 years. What is the present value of this bonus if the proper discount rate is 6%? 6. Kelly plans to deposit $3,000 each year into a retirement account for 20 years. If her investment earns 8%, how much will be accumulated in the account at the end of the 20 years?