5. You have just made your first $5,000 contribution to your retirement account. Assuming you earn 12% per year and make no additional contributions. What will your account be worth when you retire in 40 years? What if you wait 10 years before contributing?

6. Your company will generate $75,000 in annual revenue each year for the next seven years from a new information database. If the interest rate is 3%, what is the present value of the savings?

7. If you deposit $5,000 per year for the next 20 years into an account paying 10%, how much money will you have in the account in 30 years? How much will you have if you make deposits for 40 years?

8. Suppose Ford issues a bond with a par value of $1,000 10 years to maturity and a coupon rate of 4% paid annually. If the yield to maturity is 5%, what is the current price of the bond?

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