7. In 2006, a 50-cent piece issued in 1904 sold for $1,300. What was the rate of return on this investment? 8. You are trying to save $150,000. You have $20,000 that you plan to invest today in an account that earns 9% annual interest. How long will it take you to reach your goal? 9. A company has an unfunded pension liability of $800 million that must be paid in 20 years. To assess the value of the firm, financial analysts want to discount this liability back to the present using a rate of 8.5%. What is the present value of this liability? > 10. How much should you pay today for an insurance policy that will pay $350,000 in 40 years. Assume the appropriate interest rate is 5.75%