Use Future Value Tables and Present Value Tables, or your calculator, to complete the requirements below Required Round your answers to the nearest cent a Determine the future value of a single cash flow of $5,000 that earns 7 interest compounded annually for 10 years b Determine the future value o...

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Use Future Value Tables and Present Value Tables, or your calculator, to complete the requirements below. Required:

Question:

Use Tables and Present Value Tables, or your calculator, to complete the requirements below.
Required:
Round your answers to the nearest cent.
a. Determine the of a single cash flow of $5,000 that earns 7% interest compounded annually for 10 years.
b. Determine the of an annual of 10 cash flows of $500 each that earns 7% compounded annually.
c. Determine the present value of $5,000 to be received 10 years from now, assuming that the interest (discount) rate is 7% per year.
d. Determine the present value of an of $500 per year for 10 years for which the interest (discount) rate is 7% per year and the first cash flow occurs 1 year from now.
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...