Maddy works at Burgers R Us. Her boss tells her that if she stays with the company for five years, she will receive a bonus of $5,100. With an annual discount rate of 8%, calculate the value today of receiving $5,100 in five years.

Ronald has an investment opportunity that promises to pay him $46,000 in three years. He could earn a 6% annual return investing his money elsewhere. What is the most he would be willing to invest today in this opportunity?