The computer department of a Law firm is considering the purchase of a new software to manage its clients' information. A similar purchase 4 years ago cost $200,000. At an interest rate of 7% per year, what is the equivalent value today of the previous $200,000 expenditure? Problem 2: What is the amount of money that you should invest now to get $25,000 in year 8 if the interest rate is 11% per year? Problem 3: A food transportation company is considering installing temperature loggers in all its refrigerated trucks for monitoring temperatures during transit. If the systems will reduce insurance claims by $8,000 in each of the next 2 years, how much should the company be willing to spend now if it uses an interest rate of 12% per year