Computing Present Values of Single Amounts and Annuities Refer to Tables 1 and 2 in Appendix A near the end of the book to compute the present value for each of the following amounts.

a. $120,000 received 10 years hence if the annual interest rate is:

1. 10% compounded annually.

2. 10% compounded semiannually.

b. $2,000 received at the end of each year for the next eight years discounted at 8% compounded annually.

c. $800 received at the end of each six months for the next 15 years if the interest rate is 10% per year compounded semiannually.

d. $250,000 received 10 years hence discounted at 10% per year compounded annually.