Euphemia wants to take a holiday to the Cook Islands, two years from now, once the coronavirus pandemic is well and truly over. She wants to save up $6,000 for this trip. How much does she need to deposit into her bank today to achieve this goal, if the bank pays an interest rate of 7.2% per annum, compounded monthly?

Pauline has an inheritance that promises to pay her 10 year-end amounts of $5,000 starting exactly 3 years and 6 months from today. If she earns 4% p.a., how much is the inheritance worth in present-day dollars?

A scholarship fund earns an effective annual rate of 7%. How much does the scholarship fund need today if the fund pays an amount of $5,000 in one year and grows by 2% per annum for an infinite period?