Your father has promised to give you Rs 2,00,000 in cash on your 30th birthday, today is your 21st birthday. He wants to know the following things:

If he decides to make annual payments into a fund after one year, how much will each have to be if the fund pays 8 %? If he decides to invest a lump sum in the account after one year and let it compound annually, how much will the lump sum be? If he decides to invest a lump sum in the account now and let it compound annually, how much will the lump sum be?

Assume 8% rate of interest in each case.