Question $2$

Suppose you just turned $21.$ Arich uncle has set up a trust fund for you that will pay you

$$50,000$ when you turn $29.$ If the relevant discount rate is $8\%,$ how much is this fund worth

today?

$$46,296\mathrm{.}30$

$$5,366\mathrm{.}38$

$$30,487\mathrm{.}80$

$$27,013\mathrm{.}44$