1. Find the following values. Compounding/discounting occurs annually. Round your answers to the nearest cent.
An initial $200 compounded for 10 years at 10%.
An initial $200 compounded for 10 years at 20%.
The present value of $200 due in 10 year at 10%.
The present value of $1,420 due in 10 years at 20%.
The present value of $1,420 due in 10 years at 10%
2. Find the following values using the equations and then a financial calculator. Compounding/discounting occurs annually. Do not round intermediate calculations. Round your answers to the nearest cent.
An initial $500 compounded for 1 year at 6%.
An initial $500 compounded for 2 years at 6%.
The present value of $500 due in 1 year at a discount rate of 6%.
The present value of $500 due in 2 years at a discount rate of 6%.