Calculate the present value of each of the following future payments. (For some of these problems you may wish to use the online calculator available at www.moneychimp.com/articles/finworks/fmpresval.htm.)
a. A $10,000 lump sum received 1 year from now if the market interest rate is 8 percent.
b. A $10,000 lump sum received 2 years from now if the market interest rate is 10 percent.
c. A $1,000 lump sum received 3 years from now if the market interest rate is 5 percent.
d. A $25,000 lump sum received 1 year from now if the market interest rate is 12 percent.
e. A $25,000 lump sum received 1 year from now if the market interest rate is 10 percent.
f. A perpetuity of $500 per year if the market rate of interest is 6 percent.