Find the following values for a lump sum assuming annual compounding:
a. The future value of $1500 invested at 7 percent for one year
b. The future value of $1500 invested at 7 percent for five years
c. The present value of $1500 to be received in one year when the opportunity cost rate is 7 percent
d. The present value of $1500 to be received in five years when the opportunity cost rate is 7 percent