Explain how to solve each of the following without tables (in each case use the quickest approach

Question:

Explain how to solve each of the following without tables (in each case use the quickest approach possible):

a. The present value of $10,000 for four years at 10% compounded annually

b. The present value of $5,000 for five years at 10% [start with information developed in (a)]

c. The future value of five cash flows of an ordinary annuity of $3,000 each at 10% compound interest

Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,... Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...