1. Find the amount that should be set aside today to yield the desired future amount.

Future amount needed	Interest rate	Compounding period	Investment time
$7,000	24%	semiannually	2 years

The present value is: $_____

2. Compute the amount of money to be set aside today to ensure a future value of $4,500 in one year if the interest rate is 1.5% annually, compounded annually.

The amount of money to be set aside is: $____