Problem: What is the present value of the following future amounts?
1) $800 to be received 10 years from now discounted back to the present at 10 percent
2) $300 to be received 5 years from now discounted back to the present at 5 percent
3) $1,000 to be received 8 years from now discounted back to the present at 3 percent
4) $1,000 to be received 8 years from now discounted back to the present at 20 percent