Minitori Company needs $10,000 on January 1, 2015. It is starting a fund on January 1, 2012.

Instructions
Compute the amount that must be invested in the fund on January 1, 2012, to produce a $10,000 balance on January 1, 2015, if:
  (a) The fund earns 8% per year compounded annually.
  (b) The fund earns 8% per year compounded semiannually.
  (c) The fund earns 12% per year compounded annually.
  (d) The fund earns 12% per year compounded semiannually.