Using the appropriate interest table, answer the following questions. (Each case is independent of the others).
(a) What is the future value of 20 periodic payments of $4,000 each made at the beginning of each period and compounded at 8%?
(b) What is the present value of $2,500 to be received at the beginning of each of 30 periods, discounted at 10% compound interest?
(c) What is the future value of 15 deposits of $2,000 each made at the beginning of each period and compounded at 10%? (Future value as of the end of the fifteenth period.)
(d) What is the present value of six receipts of $1,000 each received at the beginning of each period, discounted at
9% compounded interest?