Exercise 1 (2 points) What is the present value of $ 10 000 received 8 years from today if the interest rate is 5% per year? Exercise 2 (2 points) If you invest EUR 100 at an interest rate of 12%, how much will you have at the end of 4 years? Exercise 3 (2 points) Your purchase a financial instrument which will pay $10 per year for ever. If the interest year is 2%, what is its value? Exercise 4 (2 points) Viviane has decided it is time to plan for her retirement. At the end of each year for the next 20 years, she will save $5,000 in a retirement account. If the account earns 5% per year, how much will Vivian have saved in 20 years