1. What is the present value of 58 annual payments of $2,470 each with the first payment being received immediately? assume you can invest money at a 10% stated rate with semi-annual compounding.
2. What is the future value of an annuity of $150 per year (first cash flow occurs one year from today) for 45 years if the interest rate is 11% p.a.?
3. Calculate the present value of annuity cash flow of 1100 with the first cash flow received in one year assuming a discount rate of 9.2 percent.