NOTE; Please use Excel for Excel formula

4. You have just received notification that you have won $5 million lottery. However, your price will be awarded on your 60th birthday, 40 years from now. What is the present value of this future windfall assuming a discount rate of 4%?

5. Suppose you would like to buy your dream house in 10 years. You estimate that you will need $50,000 for the down payment. If you believe your mutual fund can achieve 7% annual rate of return and you want to have the down payment for the house in 10 years, how much do you have to invest today?

6. You have just made a one-time $5,000 contribution to your retirement account. Assuming you earn 15% per year and make no additional contributions. What will your account be worth when you retire in 40 years?