1. Today is your 19^th birthday and your mother set up a trust fund which will pay you $150,000 when you will become 30 years old. If the discount rate is 9% per year how is the fund worth today.
2. If you are offered an investment that will pay 9% per year and if you invest $15,000 after how many years will you have $30,000?
3. At 6.5% interest how long will it take to double your money?