Using the present and future value tables in Appendix A, the appropriate calculations on the Garman/Forgue website, or a financial calculator, calculate the following:

(a) The future value of $400 in two years that earns 5 percent.

(b) The future value of $1200 saved each year for ten years that earns 7 percent.

(c) The amount a person would need to deposit today with a 5 percent interest rate to have $2000 in three years.

(d) The amount a person would need to deposit today to be able to withdraw $6000 each year for ten years from an account earning 6 percent.

(e) A person is offered a gift of $5000 now or $8000 five years from now. If such funds could be expected to earn 8 percent over the next five years, which is the better choice?

(f) A person wants to have $3000 available to spend on an overseas trip four years from now. If such funds could be expected to earn 7 percent, how much must be invested in a lump sum to realize the $3000 when needed?
(g) A person who invests $1200 each year finds one choice that is expected to pay 9 percent per year and another choice that may pay 10 percent. What is the difference in return if the investment is made for 15 years?
(h) A person invests $50,000 in an investment that earns 6 percent. If $6000 is withdrawn each year, how many years will it take for the fund to run out?