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Refer to the appropriate tables in the text Required Round answers

Refer to the appropriate tables in the text.

Required:

Round answers to two decimal places. Determine:

a. The future value of a single cash flow of $ 5,000 that earns 7 percent interest compounded annually for 10 years.

b. The future value of an annual annuity of 10 cash flows of $ 500 each that earns 7 percent compounded annually.

c. The present value of $ 5,000 to be received 10 years from now, assuming that the interest (discount) rate is 7 percent per year.

d. The present value of an annuity of $ 500 per year for 10 years for which the interest (discount) rate is 7 percent per year and the first cash flow occurs one year from now.

Required:

Round answers to two decimal places. Determine:

a. The future value of a single cash flow of $ 5,000 that earns 7 percent interest compounded annually for 10 years.

b. The future value of an annual annuity of 10 cash flows of $ 500 each that earns 7 percent compounded annually.

c. The present value of $ 5,000 to be received 10 years from now, assuming that the interest (discount) rate is 7 percent per year.

d. The present value of an annuity of $ 500 per year for 10 years for which the interest (discount) rate is 7 percent per year and the first cash flow occurs one year from now.

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