a. What is the present value of nine annual cash payments of $6,000, to be paid at the end of each year using an interest rate of 4%?

b. What is the present value of $20,000 to be paid at the end of 23 years, using an interest rate of 16%?

c. How much cash must be deposited in a savings account as a single amount in order to accumulate $300,000 at the end of 12 years, assuming that the account will earn 8% interest?

d. How much cash must be deposited in a savings account (as a single amount) in order to accumulate $50,000 at the end of 12 years, assuming that the account will earn 14% interest?