E6-3 (Computation of Future Values and Present Values) Using the appropriate interest table or Excel formula, answer each of the following questions: (Each case is independent of the others.)
(a) What is the future value of		$7,000	at the end of	5	periods at	8%
compounded interest?
Text as appropriate.						Fomula
(b) What is the present value of			$7,000	due	8	periods hence,
discounted at	11%
Text as appropriate.						Formula
(c) What is the future value of		15	periodic payments of		$7,000	each made at
the end of each period and compounded at			10%	?
Text as appropriate.						Formula
(d) What is the present value of			$7,000	to be received at the end of each of
20	periods, discounted at		5%	compound interest?
Text as appropriate.						Formula