Present Value for Various Compounding Periods

Find the present value of $525 due in the future under each of the following conditions. Do not round intermediate calculations. Round your answers to the nearest cent.

1. 15% nominal rate, semiannual compounding, discounted back 5 years.

   $

2. 15% nominal rate, quarterly compounding, discounted back 5 years.

   $

3. 15% nominal rate, monthly compounding, discounted back 1 year.

   $

2)

Future Value of an Annuity for Various Compounding Periods

Find the future values of the following ordinary annuities.

1. FV of $400 each 6 months for 4 years at a nominal rate of 8%, compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent.

   $

2. FV of $200 each 3 months for 4 years at a nominal rate of 8%, compounded quarterly. Do not round intermediate calculations. Round your answer to the nearest cent.

   $