7. Ramzi Razis the owner of Petro Vynzio Enterprise needs to replace two pumps at his gas station in 3 years at an estimated cost of RM24,000. What lump sum deposited today at 5% compounded annually must he invest to have the needed funds? (3 Marks) 8. Every 6 months, Refah Rafaz puts RM680 into an account paying 10% compounded semiannually. Find the account balance after 8 years. (3 Marks) 9. An insurance settlement includes an RM1,680 monthly payment for 4 years. Find the amount that must be set aside today in an account earning 12% per year compounded monthly to satisfy this financial obligation. (3 Marks) 10. Richard owes his mother RM75,000 for the purchase of machinery for his business. Find the required quarterly payment into a sinking fund if Richard pays off the loan in 4 years and the interest rate is 5% per year compounded quarterly. (3 Marks) 3