Question: 1. Mike Derr Company expects to earn 10% per year on an investment that will pay $606,000 five years from now. Compute the present value

1. Mike Derr Company expects to earn 10% per year on an investment that will pay $606,000 five years from now. Compute the present value of this investment.

2. On January 1, a company agrees to pay $19,000 in eight years. If the annual interest rate is 9%, determine how much cash the company can borrow with this agreement

3. Tom Thompson expects to invest $11,000 at 12% and, at the end of a certain period, recelve $67,434. How many years will it be before Thompson receives the payment?

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