1. What is the future value of $800 deposited for one year earning a 6% interest rate annually? Show your work for your answers and round to 2 decimals.
2. What is the present value of a $650 payment in one year when the discount rate is 12 percent? Show your work for your answers and round to 2 decimals.
3. What is the present value of a $700 payment in one year when the discount rate is 4 percent? Show your work for your answers and round to 2 decimals.
4. What is the present value of a $3,700 payment made in 6 years when the discount rate is 8 percent? Show your work for your answers and round to 2 decimals.
5. Compute the present value of a $1200 payment made in 10 years when the discount rate is 10 percent. Show your work for your answers and round to 2 decimals.