Problem 1: Calculate the PV of an annuity due, given the following information: (a) PMT: $4,000, (b) Rate: 5%, and (c) NPER: 10.
Problem 2 (Extension Population Growth): If the current population of city X is 1,000,000 citizens, how long would it take for the city to reach 2,000,000 citizens if the growth rate was 5%?