Identify the future and present value of the question below: 1. Mazlan will retire in 20 years. This year she wants to fund an amount of RM15,000 to become available in 20 years. How much does she have to deposit into a pension plan earning 7% annually? 2. To pay for your child's education, you wish to have accumulated RM30,000 at the end of 15 years. To do this, you plan on depositing an equal amount into the bank at the end of each year. If the bank is willing to pay 6 percent compounded annually, how much must you deposit each year to reach your goal? 3. Your cousin is currently 12 years old. She will be going to college in 6 years. Your aunt and uncle would like to have RM100,000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 4% per year, how much money do they need to put into the account today to ensure that they will have RM100,000 in 6 years? 4. You borrow RM15,000 to purchase a boat. The interest rate is 11 percent compounded monthly, and the term of the loan is 3 years. What are the monthly payments? 19:51