Present and future values for different interest rates

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Reference no: EM131595338

Find the following values. Compounding/discounting occurs annually. Round your answers to the nearest cent.

a. An initial $500 compounded for 10 years at 4%.

b. An initial $500 compounded for 10 years at 8%.

c. The present value of $500 due in 10 year at 4%.

d. The present value of $1,030 due in 10 years at 8%.

e. The present value of $1,030 due in 10 years at 4%.

Define present value.

The present value is the value today of a sum of money to be received in the future and in general is less than the future value.

The present value is the value today of a sum of money to be received in the future and in general is greater than the future value.

The present value is the value today of a sum of money to be received in the future and in general is equal to the future value.

The present value is the value in the future of a sum of money to be received today and in general is less than the future value.

The present value is the value in the future of a sum of money to be received today and in general is greater than the future value.

Reference no: EM131595338

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