1. Find the future value of today's $500 in 5 years under each of the following conditions.
a. 5% nominal rate,annual compounding
b. 8% nominal rate, annual compounding
c.10% nominal rate, annual compounding
2. Find the present value of today's $10,000 in 5 years under each of the following conditions.
a. 6% nominal rate, annual compounding
b. 10% nominal rate, annual compounding
c. 12% nominal rate, annual compounding