Five years ago you made an investment in a business, and you are now about to receive a payout from your investment. One year from now you will be paid $15,000, two years from now you will be paid $20,000, and three years from now you will receive $30,000.

a) What is the present value (PV) today of each of the future payments, and their total present value?

(b) What is the total future value (FV) three years from now (at the time of the last payment) of the three payments? You require a rate of return of 10% from your investment.