In three years when you graduate you would like to buy a new vehicle. You would like to make a cash down payment when you purchase your vehicle and have decided that you can deposit $$50$ per month into a savings account that will earn $6\%$ interest.

Required $(3)$

f$)$ How much cash will you have in your savings account three years from now when you go to purchase your new vehicle?

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When you graduate you have $$12,000$ in student loans to repay. The loans have an annual interest rate of $3\%.$ You must repay your loans with monthly payments and you would like to pay off the loans in $3$ years.

Required $(4)$

g$)$ How much do you need to pay each month to accomplish your goal?

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After graduation you start working for a public accounting firm. You will begin your job on January $1$st$.$ As part of the firm's compensation structure they offer a yearend bonus $($paid December $31$ st$)$ of $$5,000$ if you reach your work goals. The current market interest rate is $6\%.$

Required $(5)$

h$)$ What is the present value of this bonus?

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