A) Suppose the annual discount rate is 5%. A pension plan will pay $61,432 to Grandma in the next 21 years at the end of each year, starting a year from now. Find the present value of the pension plan.

B) The PV of $687 to be received in 8 years is $476. The discount rate is ____%.

C) In the next three years, there will be three cash flows: $119, $182, $181 at the end of each year. The discount rate is 4%. Find the value of the cash flows in 8 years.

D) Suppose you are going to receive $104 at the end of first year and $104 at the end of the second year. The present value of the cash flows is $198. The discount rate is ____%.